Most small business owners in the United States believe the worst of the coronavirus pandemic is still ahead of them, with half saying their operations would permanently close within a year unless the business environment improves, the U.S. Chamber of Commerce said on Tuesday.
A new U.S. Chamber-MetLife poll of small businesses taken from Oct. 30-Nov. 10 showed that 74% of the owners said they need further government assistance to weather the pandemic. That percentage rises to 81% for minority-owned businesses.
The quarterly poll found that the 62% of small business owners fear that the worst is still to come with COVID-19’s economic impact. Only 40% said they believe their small businesses can operate indefinitely during the current business environment.
“We must ensure small businesses across the country receive the assistance they need from the federal government,” said Neil Bradley, the Chamber’s chief policy officer. “Not passing the bipartisan compromise for temporary and targeted relief risks the permanent loss of tens of thousands of small businesses, financial hardship for millions of Americans, and unnecessary delays in combating the pandemic.”
Democrats and Republicans in Congress are still wrangling this week over a new coronavirus relief package that would provide additional unemployment compensation and aid to small businesses and other sectors of the economy hit hard by the pandemic.
Read more at Reuters.
{Matzav.com}
