How Are Small Businesses And Entrepreneurs Faring Today In COVID-19 Downturn
Source: Forbes | Repost QBScott 8/28/2020 –
Things could be better. They could also be worse—and there is the potential for things to get worse.
That is, I think, the conclusion to be drawn from a review of several surveys and analyses of the current state of small businesses and entrepreneurs in the United States. By some measures, small businesses continue to struggle. Yet there are positive indicators, too, pointing to an economic recovery.
Still, the share of businesses saying they remain uncertain about whether or not they’ll still be around by the end of the year is worrying.
Yes, But –
Many of the data points available on small business have a “yes, but” character to them.
- At the end of June, in its last weekly update from the Small Business Pulse Survey, the Census Bureau reported that the share of small businesses saying they were experiencing a “large negative effect” from the COVID-19 was down to 38 percent from 51 percent two months prior. Yes, but: 45 percent were experiencing a “moderate negative effect.”
Author: Scott Meister, CPA
I help small businesses, accountants, bookkeepers, office managers, and business owners with their accounting needs. I’ve used QuickBooks since 2002 and train folks on how to use it efficiently. I create high-quality video training tutorials for QuickBooks and post them on QBScott.com.
Certifications include: Certified Public Accountant (CPA) | Certified Bookkeeper (CB) | Advanced Certified ProAdvisor for QuickBooks Desktop | Advanced Certified ProAdvisor for QuickBooks Online | Certified ProAdvisor for QuickBooks Enterprise | Certified ProAdvisor for QuickBooks Point Of Sale