Our Research: Access to Capital
Small business owners are suffering from a lack of access to capital. It is difficult for small business owners to access the capital that will help them grow, hire and jumpstart the economy. Our new opinion polling shows an overwhelming 90% of small business owners nationwide agree the availability of capital for small businesses is a problem.
As the COVID-19 pandemic has raged across the country and resurges in California, small business owners continue grappling with the effects of state and local public health orders and a loss in consumer demand. Nine months into this crisis, California’s small business owners say their businesses have been diminished, leaving them with reduced revenue and operating capacity.
This is the fifth in a series of COVID-19 related surveys Small Business Majority has released of its network. Over time Small Business Majority has tracked the economic conditions facing small businesses, how well federal stimulus programs have served its network, the small business owners' views of proposed stimulus provisions, and other issues of importance.
Small Business Majority released its fourth survey of its national network of 70,000 small business owners conducted during the pandemic to assess the current state of small business and gauge their views on possible relief measures. The survey also revealed the extent to which PPP and EIDL have served small businesses during the crisis. The survey found many small businesses continue to face an uncertain future without additional relief, with 1 in 4 reporting they won't survive past three months and 16% considering bankruptcy.
As Congress continues to debate the next round of stimulus relief, Small Business Majority surveyed its national network of small business owners to gauge their views on key small business proposals currently on the table.
As the Paycheck Protection Program neared its expiration, Small Business Majority surveyed its national network of small business owners to better understand how businesses have benefited from PPP.
It’s no secret that California has been hard hit by the spread of COVID-19, with a vast 2.7 million applying for unemployment in the past four weeks, and the impacts have been particularly severe on small businesses that have seen their revenues take a nosedive overnight. With the economy on pause, Main Street has been left to cope with how to stay afloat during this unprecedented time.
It’s no secret that the spread of COVID-19 around the country has already had a devastating impact on small businesses. With the economy on pause and uncertainty gripping communities across the country, Main Street has been left to cope with how to stay afloat during this unprecedented time.
Policymakers at all levels, from town councils to the halls of Capitol Hill, emphasize the challenges of small businesses as a key talking point during political debates. But new opinion polling in four states—Illinois, Missouri, Virginia and Wisconsin—reveals small businesses feel their government officials don’t actually understand their challenges, and they support a wide array of policies to address their needs, some of which might come as a surprise to their elected officials.
This report compiles findings from focus groups and roundtable discussions with rural small business owners and other small business stakeholders in four states, as well as the results of a national poll of rural small business owners. The report also features recommendations for policymakers and service providers to increase opportunities for rural entrepreneurs.
Recent scientific opinion polling found small business owners are broadly supportive of a range of policies that would support responsible lending. Specifically, the poll found 77% of small business owners support a policy that would lift a cap on credit union lending and an overwhelming 87% support a “truth in lending” act for small business loans to increase transparency, among support for other policies.