June 22, 2020
By: Caity Witucki
Contributing Editor, Main Street Monday
Main Street Monday – U.S. Census Bureau Survey Shows Small Business Conditions Improving in June
The U.S. Census Bureau recently conducted a follow-up to its survey on the impact of COVID-19 on small businesses. The thousands of responses that the U.S. Census Bureau received from business owners across the country indicate that small businesses are continuing to recover.
The initial survey was conducted in early April and follow-up surveys have been Published on a weekly basis. The U.S. Census Bureau’s most recent survey made the following observations:
- 41.3% of U.S. small businesses (down from 51.4% a month earlier) and 73.7% of U.S. accommodation and food services businesses (down from 83.5%) have experienced a large negative effect from the COVID-19 pandemic
- 35.8% of U.S. small businesses (down from 44.9%) and 55% of U.S. retail trade businesses (down from 65.8%) experienced disruptions in their supply chain.
- 50.3% of U.S. small businesses (down from 74%) have experienced decreased operating revenues
- 13% of U.S. small businesses (down from 27.5%) had a decrease in the number of paid employees.
- 26.5% of U.S. small businesses (down from 41.4%) and 52.8% of U.S. educational services businesses (down from 72.2%) temporarily closed one or more locations for at least one day.
- 41% of U.S. small businesses (up from 31.4%) believe more than 6 months of time will pass before their business returns to its usual level of operations.
The Small Business Pulse survey is intended to complement existing U.S. Census Bureau data collections by providing high-frequency, detailed information on small business-specific initiatives such as the Paycheck Protection Program. Results from the survey may aid businesses in making decisions and assist researchers studying the impact and responses to COVID-19.
A state-by-state infographic can be found here.
U.S. Census Bureau