Small businesses across the United States truly bore the brunt of forced shutdowns and, in many ways, still continue to do so. In 2020 alone, many small businesses simply have simply shut their doors, due to an inability to stay financially alive.
Even with plans like the Payment Protection Program, many small businesses are not out of the woods just yet. The ones who made it past this year’s shutdowns are looking for as much business as possible, seeking a return to steady ground.
Now, a new survey from the United States Chamber of Commerce shows that most small businesses are scared of another round of shutdowns that could put them out of work for good, reports Washington Examiner.
What to Know About the Concerns of Small Businesses Across the Nation
As one might imagine, small businesses that had a tough time getting their doors reopened post shutdowns are especially on edge here. This accounts for a grand total of 85% of small businesses.
Running a business during these uncertain times can impact physical and mental health. You can cope by:
🧘♂️Scheduling time to unwind.
🎯 Setting goals.
— SBA (@SBAgov) July 30, 2020
Meanwhile, 56% of small businesses also support federal guidelines to explain how establishments can remain in operations. This is crucial, especially since certain local and state leaders are rolling back their reopening plans, hence causing more small businesses to shut their doors yet again.
What Lies Ahead for the Small Businesses Community?
In many ways, small businesses have quite a journey ahead of them. As things currently stand, small business policy experts are already predicting that “a long road to recovery” lies ahead for many entrepreneurs.
Furthermore, small business owners themselves also maintain a daunting outlook on what the near future has in store. At this time, six months to one year or longer might be the time range necessary for small businesses to get back on their feet.
🆕 UPDATE: Since the #PaycheckProtection Program started, 5 million small businesses across America have received much-needed relief and are keeping millions of workers on payroll. The deadline to apply for a PPP loan is August 8.
▶️ Here's how: https://t.co/HL8Y4ZtSSz
— SBA (@SBAgov) July 28, 2020
If shutdowns continue to pile up, then there’s a real possibility of an even longer period of recovery, if small businesses can survive a second round of lockdown. Many entrepreneurs cannot and the fact that a fair amount of employees are in no rush to get back to work (thanks to getting more money from government handouts) doesn’t help small businesses either.
Ultimately, the road ahead may have some challenges for many small business owners across America.
Do you believe small business owners in America have a tough road ahead of them? Will the United States have to deal with another round of mass shutdowns? Let us know in the comments section below!