The novel coronavirus has impacted us all – in big and small ways, from the way we shop for groceries to the way we communicate and work with others. For small businesses around the country, the impacts of COVID-19 have been wide and far reaching. Here are some facts about small businesses to help you learn more about businesses like ours during this time:
1. Nearly all businesses in the US are small – up to 99.9% of all businesses, in fact. Of the 32.5 million businesses that comprise the American economy, over 30 million are considered small.
2. Small businesses create 1.5 million jobs annually – that’s 64% of all new jobs created each year.
3. Many small businesses operate from home – according to the SBA statistics, roughly half of all small businesses already operated from home prior to the pandemic.
4. Small businesses are particularly vulnerable to change – especially in their first few years of operation. Since the start of the pandemic, nearly 31% of small businesses have ceased to operate.
It’s clear that small businesses are important not only to small town economies, but to the economy and livelihoods of American workers. As this “new normal” stretches on, we at CW Print + Design thank our community for continuing to support not just our business but the many other local, small businesses around us. We, like all businesses across the country, have had to make changes to keep our employees and customers safe, and we appreciate your patience and support during this time.
Stay well and stay safe.