State of Small Business Report Released

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State of Small Business Report Released

NASE, a proud member of the Small Business Roundtable, is pleased to announce the release of the State of Small Business report, in partnership with Facebook. 

This survey was conducted with approximately 86,000 people who owned, managed or worked for a small or medium-sized business (“SMB”). This report follows a virtual discussion that SBR hosted this past Friday with Sheryl Sandberg, Chief Operating Officer of Facebook.  SBR CEOs and Facebook discussed COVID-19’s ongoing economic impact and the importance of making sure small businesses are at the center of our recovery efforts. The results provide a better understanding of which businesses are still operational and which are not, where they are located, and what their most pressing needs are. Key results of the report include:

  • A third of small businesses have closed their doors to an uncertain future.

  • The biggest challenges for small businesses are access to capital and customer demand.

  • Small and medium-sized businesses are turning to internet tools to adapt. 

  • Nearly half of small business owners and managers are struggling to balance running a business and caring for their households.

  • Employees are facing dire economic circumstances. More than half of the small business owners and managers surveyed don’t intend to rehire. 

  • But yet, 57% of owners and managers remain optimistic and resilient.

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