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C. TODAY
Poll Shows Most Small
Businesses at Least Partially
Open Amid COVID-19 Recovery
By Thaddeus Swanek
Senior Writer and Editor, Strategic Communications
US Chamber of Commerce
Most small businesses are open in some capacity businesses believe their business is in good health,
and are showing some signs of optimism compared to 50% last month. 24% rate the U.S.
about the future, even while facing continued economy as “good,” (compared to 22% last month)
challenges from the coronavirus pandemic, and 27% believe their local economy is in good
according to the latest Small Business Coronavirus health (similar to last month’s 25%). However,
Impact Poll released by the U.S. Chamber of the number of small businesses saying the U.S.
Commerce and MetLife. economy is in “very poor” health shrunk to 18%,
from 29% last month.
Reflecting that guarded optimism, Jon Briccetti,
CEO of Troy Web Consulting in Troy, New To give more perspective on state and local
York, said that he saw other small businesses economies, the U.S. Chamber recently released a
hunkering down. state map showing how quickly unemployment
claims rose in each state over the past weeks. That
“Everyone seems to be just waiting out the storm,” map shows all 50 states have seen at least about 10%
Briccetti said. “In general, it seems like most of their workforce file unemployment claims since
businesses will survive and come out of this with a the start of March. Also, in two-thirds of states (33),
greater appreciation for their customers and some more than 20% of workers have now filed a claim
new, more efficient ways of doing business.” and 10 states have now eclipsed the 30% mark.
The good news is that almost eight in ten small The poll also shows that expectations around cash
businesses (79%) are either fully (41%) or partially flow and future revenue are slightly better this
(38%) reopened. Of the approximately one in month. Currently, 56% feel comfortable with their
five small businesses who reported they had company’s cash flow situation, up from last month’s
temporarily closed since the start of the COVID-19 low of 48% and similar to findings in late March
pandemic, 43% have reopened. Those who are still (59%). Two-thirds (66%) are concerned about
temporarily closed are split on whether they will having to close again, or stay closed, if there is a
reopen in the next two weeks (49% say it is likely, second wave of the coronavirus.
47% say it is unlikely).
Like many small businesses in the survey, Briccetti
However, more small businesses are anticipating said he has concerns about his cash flow, and said
a longer window before things return to normal: it will take his small business months—not days or
More than half (55%) of small businesses surveyed weeks—to return to normal.
believe it will take six months to a year before the
business climate returns to normal, up from 50% “Overall, the current state of our business appears
last month and 46% two months ago. Six percent O.K. However, we have been impacted in ways
say it never will return to normal. which likely will become worse as time goes on,
even if businesses begin to re-open. The major hits
Overall, business health assessments and were to cash flow and our sales,” Briccetti said. “Our
economic outlooks remain mostly steady from sales pipeline has been hit pretty hard, which will
the previous month. Fifty-three percent of small have an impact about three to six months out as
15 AMCHAM SOUTH CHINA
Poll Shows Most Small
Businesses at Least Partially
Open Amid COVID-19 Recovery
By Thaddeus Swanek
Senior Writer and Editor, Strategic Communications
US Chamber of Commerce
Most small businesses are open in some capacity businesses believe their business is in good health,
and are showing some signs of optimism compared to 50% last month. 24% rate the U.S.
about the future, even while facing continued economy as “good,” (compared to 22% last month)
challenges from the coronavirus pandemic, and 27% believe their local economy is in good
according to the latest Small Business Coronavirus health (similar to last month’s 25%). However,
Impact Poll released by the U.S. Chamber of the number of small businesses saying the U.S.
Commerce and MetLife. economy is in “very poor” health shrunk to 18%,
from 29% last month.
Reflecting that guarded optimism, Jon Briccetti,
CEO of Troy Web Consulting in Troy, New To give more perspective on state and local
York, said that he saw other small businesses economies, the U.S. Chamber recently released a
hunkering down. state map showing how quickly unemployment
claims rose in each state over the past weeks. That
“Everyone seems to be just waiting out the storm,” map shows all 50 states have seen at least about 10%
Briccetti said. “In general, it seems like most of their workforce file unemployment claims since
businesses will survive and come out of this with a the start of March. Also, in two-thirds of states (33),
greater appreciation for their customers and some more than 20% of workers have now filed a claim
new, more efficient ways of doing business.” and 10 states have now eclipsed the 30% mark.
The good news is that almost eight in ten small The poll also shows that expectations around cash
businesses (79%) are either fully (41%) or partially flow and future revenue are slightly better this
(38%) reopened. Of the approximately one in month. Currently, 56% feel comfortable with their
five small businesses who reported they had company’s cash flow situation, up from last month’s
temporarily closed since the start of the COVID-19 low of 48% and similar to findings in late March
pandemic, 43% have reopened. Those who are still (59%). Two-thirds (66%) are concerned about
temporarily closed are split on whether they will having to close again, or stay closed, if there is a
reopen in the next two weeks (49% say it is likely, second wave of the coronavirus.
47% say it is unlikely).
Like many small businesses in the survey, Briccetti
However, more small businesses are anticipating said he has concerns about his cash flow, and said
a longer window before things return to normal: it will take his small business months—not days or
More than half (55%) of small businesses surveyed weeks—to return to normal.
believe it will take six months to a year before the
business climate returns to normal, up from 50% “Overall, the current state of our business appears
last month and 46% two months ago. Six percent O.K. However, we have been impacted in ways
say it never will return to normal. which likely will become worse as time goes on,
even if businesses begin to re-open. The major hits
Overall, business health assessments and were to cash flow and our sales,” Briccetti said. “Our
economic outlooks remain mostly steady from sales pipeline has been hit pretty hard, which will
the previous month. Fifty-three percent of small have an impact about three to six months out as
15 AMCHAM SOUTH CHINA
