Struggling Small Businesses Say Government Is ‘No Help’

WalletHub’s newly launched Coronavirus Small Business Survey found an overwhelming number of businesses are being negatively impacted by the coronavirus, while a large number say the government is not doing enough to help. The survey found 87 percent of business owners noting that COVID-19 is hurting their business while 35 percent “say their business can only survive for less than three months in current conditions,” authors of the report said. The survey results followed a WWD report that showcased several grant programs — both private and public — aimed at helping small businesses. In the U.S., there are more than 30 million companies described as a “small business.” In Canada, there are about 1.1 million, according to Statistics Canada’s Business Register. Digging deeper in the WalletHub report showed business owners are prioritizing health over the economy. Of those polled, 79 percent “think that minimizing COVID-19 deaths is more important than reopening the economy.” The report also found that many “business owners feel neglected: 68 percent of small business owners think that the government is not doing enough to help small businesses right now.” WalletHub’s Odysseas Papadimitriou, chief executive officer, said there are “a few clear reasons for” the broad impact of COVID-19 on small business.

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