ARKANSAS (KNWA/KFTA) — During the pandemic, the Small Business Pulse Survey (SBPS) has measured the impacts the virus has on business conditions.
More than 200,000 small businesses have responded in each phase of the survey, according to the U.S. Census Bureau.
U.S. Census Bureau’s SBPS from Nov. 16 – 22:
- 47% of U.S. small businesses believe more than 6 months of time will pass before their business returns to its normal level of operations
- 75% of U.S. small businesses have requested financial assistance from the Paycheck Protection Program since March 13, 2020
- 55% of U.S. small businesses did not furlough or lay off any paid employees after March 13, 2020
- 45% of U.S. retail trade businesses have experienced domestic supplier delays in the last week
- 38% of small businesses in the New Orleans-Metairie, LA Metro Stat Area have experienced an increase in the use of online platforms to offer goods and services since March 13, 2020
- 11% of U.S. small businesses experienced a decrease in the number of paid employees in the last week
- 19% of U.S. small businesses experienced a decrease in the total number of hours worked by paid employees in the last week
Arkansas has nearly 22% of its small businesses impacted by COVID-19, which is 7.8% below the national average.
New York and New Jersey have the highest levels of small businesses affected by the pandemic at 39.5% and 39.1%, respectively — more than 9% higher than the national average. Illinois comes in third at 37.7% — 8% higher than the national average.
The hardest-hit businesses were accommodations and food services, which ranked at 64.3%; the national average was 29.7%, according to the survey.
Data disclaimer: Differences between estimates may be attributed to sampling or non-sampling error, rather than to differences in underlying economic conditions.