Pandemic And Social Distancing Regulations Taking Toll On Small Businesses

By: Multi-Unit Franchisee
Published: October 5th, 2020

A new Small Business Recovery Survey released by Verizon Business highlights a number of worries and concerns held by small business operators across the country. The survey of 600 businesses that are currently open or plan to reopen underscores the impact of Covid-19 and social distancing regulations, and their effects on small business operators.

Key Findings Include: 

• Regardless of their party affiliation, small business decision makers view the outcome of the 2020 election as consequential: 81% say it will impact small businesses in the U.S., while 57% say it will impact their own business' financial security.
• 55% of small businesses surveyed have concerns about staying afloat financially with social distancing regulations that limit business capacity.
• 55% of small businesses have concerns about delivering services efficiently amid social distancing regulations.
• 72% of small businesses show optimism that they will be able to stay open at least six months or more.
• 67% of small businesses feel their businesses' financial security has been negatively impacted.
• 36% of small businesses have invested in technologies that enable remote work.

This new study is a follow-up to a Verizon Business Small Business Survey conducted in April.

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