The U.S. Census Small Business Pulse Survey for the week of June 14th to June 20th shows small businesses continue to struggle.
43% of the small businesses surveyed reported a decrease in revenue from the prior week while only 21% reported an increase. Also, 11% reported decreases in their number of employees while 10% reported increasing employment.
This despite many states ending their lockdowns and opening up their economies.
And the outlook for the future remains cloudy. As the chart below (click to enlarge) from the Economic Innovation Group's analysis of the survey data shows, the percentage of small businesses expecting the return to normal operations to take longer than six months increased by 3 points over the prior week, reaching a near high of 41%.
Our guess is the data will turn down again next week due to the rising number of COVID-19 cases across the country.
For more on the pulse survey, see the Economic Innovation Group's Taking the Pulse of America's Small Business Sector: June 26th. It does an excellent job of covering the survey, so we see no need to do so ourselves.
from Small Business Labs https://ift.tt/2YKZP1i
via https://ifttt.com/ IFTTT
No comments:
Post a Comment