BOSTON, April 7, 2020 /PRNewswire/ -- The negative effects of the Coronavirus on small businesses now is impairing the livelihoods of 90% of small business owners across the U.S. and Canada, with more than one-third reporting they have only a couple of weeks of cash to sustain them. That's according to the latest Alignable Small Business Pulse Polls.
These weekly surveys have monitored small business reactions to the Coronavirus threat since March 13, 2020. The ongoing poll has 217,000 responses to date, making it the largest, most representative survey of small business owners available.
As part of that poll, the Top 10 States and Top 3 Provinces have been identified where the small business impact has been the most severe.
For the U.S., these states are in the worst shape:
- Alaska (98%)
- Rhode Island (95%)
- District of Columbia (94.6%)
- Vermont (93.4%)
- Washington (92.5%)
- New Jersey (91.5%)
- New York (91.4%)
- Michigan (91.2%)
- Louisiana (91.1%)
- West Virginia (91.1%)
In Canada, these provinces are struggling the most:
- Saskatchewan (93.1%)
- Ontario (91.3%)
- New Brunswick (91.2%)
A Silver Lining: The Power of Networks & Community
While the situation for small businesses across North America remains dire, a ray of hope emerged yesterday: 60% of all struggling small business owners say they're receiving support from their community to weather the storm.
Networking groups, customers, and other business owners in the same industry were listed among the most supportive segments. The majority of support (52%) was either monetary (16%) or morale-boosting (36%).
Our Survey Methodology
The surveys were conducted via email with a random sample of Alignable's membership database of 4.5 million+ small business owners. The large Pulse Poll includes results from March 13 - April 6, 2020, and 217,000 responses from small business owners. The survey on community support includes results from April 4-6, 2020, and 16,900 responses. All surveys include small business owners with 1-50 employees.
Stay tuned for additional poll results from Alignable.com, the largest referral network for small businesses. Media outlets interested in more information or interviews should contact [email protected].