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.
Nearly a year into the COVID-19 pandemic that has strained California’s economy and public health system, small businesses across the state continue to experience significant financial setbacks.
Small business owners continue to experience significant financial setbacks from the COVID-19 pandemic that are being exacerbated by challenges accessing the capital they need to sustain their businesses. A new national survey of small business owners sheds light on their struggles to secure financing and their views on policy solutions that could help small businesses survive and grow post-pandemic.
Nearly a year into the COVID-19
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.
