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|2) The Small Business Graveyard|
For the first time in its history, the small business referral network Alignable reports that 40% of firms in 10 different categories in its survey say they can’t afford to pay their rent.
That’s up from six categories in December and just two in November.
Four of 10 small businesses said they were so worried about a severe cash crunch that could close their doors for good by the end of the year.
Most ominously, 45 percent of all small businesses say they have earned less than half of their pre-pandemic revenue.
Obviously, some of the lost income is from consumers not willing to spend in these nervous times. But most of it is from lockdowns that are throttling economic activity.
(We note that restaurants here in DC, at last, are allowed to open today, but only at 25% capacity.)
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