South Dakota’s Small Businesses Deeply Affected by COVID-19
No one needs to tell South Dakota's small business owners what this global pandemic is doing to their bottom lines. I guess the information is for the rest of us. To let us know the depths of the losses, the devastation this thing can and will cause economically for many, for who knows how long.
WalletHub's latest survey is painting a dire portrait of the small business landscape across the country. 87% of the business owners indicated that their business is suffering and 35% said their business cannot survive beyond 3 months, the way things are now.
The effects of the COVID-19 pandemic have been more calamitous for some states than others. That includes South Dakota.
In their ranking of "States with the Most Affected Small Businesses due to Coronavirus", South Dakota ranked third.
To make this determination they collected data from numerous sources in three major categories, A) Impact & Access to Resources, B) Small Business Financial Conditions, and C) Business Environment & Workforce Support.
Within those categories, they examined business credit conditions, business vitality, the share of small businesses operating in high-risk industries, business expenditures, and much more.
Here are the Top 10 States with the Most Affected Small Businesses
- South Dakota
- South Carolina
- North Carolina
- North Dakota
To see the complete survey, go to WalletHub.