Eva Martinez, CPA
Only 31% of small businesses have fully recovered...
Updated: Jul 12, 2022
A recent poll of over 4,500 Alignable members shows that less than one-third of all small businesses are doing as well, if not better, than they were prior to the pandemic. .
Read that again… Only 31% Have Fully Recovered!
Another 20% said they're breaking even and hoping for more.
And 12% said their business is better than ever.
That’s a total of 61% of total members in the survey.
This is great news considering the overall impact of the pandemic on our lives and our businesses.
This group is pivotal because it represents the business owners that survived by finding a way to start over, building new foundations for their businesses, or that could pivot from what they were doing before the pandemic hit.
Overall, some are getting by, but are not thriving (yet) the way they did prior to COVID.
But 39% of the poll respondents said they haven't discovered their New Normal yet!
On top of that, the estimates are that over 600,000 entrepreneurs abandoned their businesses all together because of cash-flow problems or just because they didn’t have time to wait nor could see a way to go forward.
These numbers represent millions of business owners (and their employees and families) that were impacted by and are still dealing with the financial impact they’ve suffered during the last 2+ years of the pandemic.
Of course, that kind of economic loss to the small business economy, on top of the permanent shutdowns that have already occurred over the past two years, are devastating to Main Street small businesses and local communities everywhere.
But there is always hope and we are here to shed some light on things you can do to bounce-back, faster.
Feel free to Ask Us if you need help. We will be happy to share some ideas, tips, resources that you can use to get your business back on track...much faster.