25% of Small Businesses Worry Most About Government Closing Their Business Again

Small Businesses Worry

A new report reveals a quarter of small businesses have concerns about the government shutting down their activities again.

Over 7,700 small business owners were polled for Alignable’s State of Small Business Report for August. Nearly half a million responses were logged. The results show a quarter of small business owners cite re-closure as their primary concern in response to the pandemic.

Small Business Worries Over Government Closures

According to the report, 32% of small businesses have been witnessing customer numbers return to pre-COVID levels. The number is promising as it is an 8% increase over the previous month. However, revenues are still down with only 26% reporting similar or higher pre-COVID levels.

The report’s findings are important for small business owners who often lack capital to tide them over during barren periods. It shows what apprehensions the business community has as the economy starts to resurface from lockdown.

Resurgence of COVID Cases Causing Concern

It is a particularly worrying time for small businesses as the resurgence in COVID-19 infections could lead to another lockdown. Further social distancing measures could restrict business activities and reduce customer numbers.

A message therapist expressed their concerns about the government closing business activities for a second time.

“I am a massage therapist. I cannot work from 6 feet away, so I have to get up close and personal with my clients. People are afraid. If government shuts me down again then I will have an even more difficult time returning to work. There are no good guidelines for what I should be doing to be safe, although most of the practices that I have seen, were already did do prior to the outbreak,” the therapist was quoted in Alignable’s report.

Nearly Half of All Businesses Still Struggling

The Alignable State of Small Business Report collected data towards the end of July. The report shows 49% of the business owners say the pandemic is ‘really impacting’ their business. Only 12% said it was having a positive effect. The same amount say the pandemic had not effected their business at all.

While 8% said their business was just starting to be affected, more than double that number said the impact was now on the decline. Only 2% said the impact had already completely ceased to impact their business.

Concerns About Financial Resources Running Out

Worries about financial resources running out is another leading concern among small business owners. 21% of the survey’s participants cited customers being afraid to return to businesses as being their primary anxiety.

In light of these findings, small businesses would be wise to stay up-to-date on the financial resources available to them. It would also make shrewd business sense to comply with social distancing and safety measures. This way, customers may feel more assured the business is doing all it can to keep them safe.

READ MORE: 

Image: Depositphotos.com

This article, "25% of Small Businesses Worry Most About Government Closing Their Business Again" was first published on Small Business Trends



RSS Business Feeds

0 nhận xét:

Post a Comment