5 reasons a small-biz bounceback may not overcome the full coronavirus impact
The immediate lockdown of the nation’s economy in response to attempts to flatten the coronavirus infection curve has had a widespread impact on the revenues of all businesses, particularly small ones that are more susceptible to economic disruptions.
The National Bureau of Economic Research, a nonprofit organization well-known for providing the start and end dates for recessions in the U.S., declared that the country entered into a recession in February, just as it was first starting to confront the coronavirus pandemic.
While the economy is in a recession, not all small businesses have been affected equally — and a few sectors have shown a recovery in sales. Despite this, many small business owners have missed payments on loans, credit cards and supplier bills.