Big League Politics The Michael Snyder of the End of the American Dream reported that small businesses will be on the ropes in the upcoming months.
With some states rolling out reopening plans, there is some optimism in the air for a potential economic rebound.
However, Snyder doesnât believe the recovery will be so quick.
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He noted the following:
According to a Bloomberg survey, 52 percent of U.S. small business owners âexpect to be out of business within six months.â
The data Snyder cites is coming from a new survey the Society for Human Resource Management conducted which discovered that 52% of small business owners expect to be closing their doors within six months.
âSHRM has tracked Covid-19âs impact on work, workers, and the workplace for months,â stated SHRM Chief Executive Officer Johnny C. Taylor, Jr., âbut these might be the most alarming findings to date. Small business is truly the backbone of our economy. So, when half say theyâre worried about being wiped out, letâs remember: Weâre talking about roughly 14 million businesses.â
Many small businesses normally operate under razor thin margins.
