Small Business Operators Finding It Difficult To Make Rent
35 percent of small business operators are still finding it difficult to pay their rent in full and on time, says a new report released in December by Alignable. That number is up 3 percent from the previous month. The need for federal funding remains a priority for operators as Covid-19 cases have risen and continue to impact small businesses.
Here are some of the key findings from the research:
- 35% of U.S. small businesses couldn’t pay their rent this month, up 3% from 32% in November.
- Several B2C industries are devastated – 61% of restaurants can’t pay their rent this month. That’s up 19% from 42% in November.
- Beauty salons (46%) and travel/hospitality businesses (43%) round out the Top 3 most-affected businesses, but many others are in trouble.
- Looking at demographics, minority-owned businesses are suffering the most, as 49% of them reported that they could not afford their rent in December. That figure is 5% higher than it was in November.
- Women-owned businesses are also struggling (38% of those have not paid their rent, up 3% from 35% last month).
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