Survey: More than 1 in 3 small businesses won’t survive past the next three months without additional financial relief

Tuesday, October 20, 2020

On October 20, Small Business Majority released the fifth in a series of COVID-19 related survey in time for what is expected to be the final week of stimulus package negotiations before Election Day. The survey finds that without additional funding, more than 1 in 3 (35%) small business owners will not survive past the next three months. The number is even higher for small business owners of color, with 41% of Black and Latino-owned businesses reporting they won’t make it past the next few months without additional financial support. Furthermore, 8 in 10 small business owners report they are struggling to make commercial rent or mortgage payments, which is up 18% since late August.