With 35 percent of small business owners saying their business cannot survive more than three months in current conditions, WalletHub today released its report on the States with the Most Affected Small Businesses due to Coronavirus, along with accompanying videos.
To identify the states in which businesses are hit hardest by COVID-19, WalletHub compared the 50 states and the District of Columbia across 12 key metrics. Our data set ranges from the share of small businesses operating in highly affected industries to small-business credit conditions and the state’s small-business friendliness. Below, you can see highlights from WalletHub’s report and a Q&A with WalletHub analysts.
COVID-19 Impact on Small Business in Pennsylvania (1=Most Affected, 25=Avg.):
- 43rd – Share of Small Businesses Operating in High-Risk Industries
- 51st – Share of Small-Business Employees Operating in High-Risk Industries Among Total Small-Business Employees
- 35th – Share of Consumer Expenditures Related to High-Risk Industries
- 20th – Share of Businesses with E-commerce Sales Activity
- 36th – Business Vitality
- 37th – Average Annual Federal Small-Business Funding per GDP
- 30th – Small-Business Credit Conditions
- 33rd – Total Amount of Small-Business Loans per Small-Business Employee
To view the full report and your state’s rank, please visit:
https://wallethub.com/edu/states-with-the-most-affected-small-businesses-due-to-coronavirus/72977/