New Facebook study shows the struggle of small business amid COVID-19

New Facebook study shows the struggle of small business amid COVID-19

  • Post published:May 19, 2020
  • Post category:News

Facebook recently completed a poll of 86,000 users to find out how small businesses and their employees are handling the COVID-19 disruptions to their business and work. The results are not far off from what we’ve been hearing all over New Mexico: the shutdown has taken a massive toll and many won’t recover. 

Facebook estimated 31% of small and medium sized businesses have stopped operating in the last three months, with 52% of personal businesses shutting down completely. There is a silver lining however, the poll estimates that only 11% of operating businesses predict they’ll fail in the next three months given current conditions. While any businesses failing is terrible news, 11% sounds like a breath of fresh air considering the damage caused by the pandemic over the last two months. Read more HERE.