Small Businesses Feel More Confident About Staying Open
August 10, 2020
Despite concerns that the coronavirus would end most small businesses, small business owners are feeling confident about their chances. In a recent CNBC survey of small businesses, 64% of business owners said they feel confident they can survive for more than a year under current conditions. The numbers are a massive improvement from when CNBC ran the same survey in April, when just 34% said they were likely to survive.
The business owners surveyed credited government support like PPP loans, but also a rally in local community support. They also acknowledge the need to adopt new technologies and shifting to new lines of business if they wish to succeed during the pandemic.