Survey: Small Businesses Impacted by Covid-19

In a recent survey of 1,000 small and midsized businesses in the United States, more than one-third said they not be able to survive more than three months in the current situation. That’s just the biggest headline, but the survey details many of the ways that business owners are adapting and responding to the Covid-19 crisis. Other key data points:

Less than 1/3 of small business owners were confident in their ability to take advantage of government assistance

More than half of small businesses had closed or decreased service hours

Nearly ¼ had changed their delivery method for products and services

To see all the results on the challenges, actions, and outlook for small and midsized businesses, go to https://bit.ly/2K7pPvn!

This blog does not provide legal, financial, accounting, or tax advice. This blog provides practical information on the subject matter. The content on this blog is “as is” and carries no warranties. ADP does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog.

©2020 ADP, LLC. All Rights Reserved. RUN Powered by ADP® is a registered trademark of ADP, LLC.

ADP

About ADP

ADP is one of the world’s largest HR organizations. We are leaders in HR outsourcing, systems and solutions – in everything from basic payroll, benefits and record keeping to complex tools for recruiting, compensation, succession planning and data analytics. We focus on what we do best – be it systems, process or compliance – so you can concentrate on what your business does the best – because thriving businesses succeed with motivated and empowered people. We know your purpose isn’t simply better process – it’s building a business on a better workforce.