The coronavirus pandemic has devastated millions of small businesses. An April 3 survey found that 24% of small businesses have already temporarily shut down. Among those businesses still open, “40% report it is likely they will shut temporarily within the next two weeks.” These closures are swelling the ranks of the unemployed at an unprecedented rate, with 10 million people filing claims in the last two weeks.
Failing small business
The coronavirus pandemic has devastated millions of small businesses. An April 3 survey found that 24% of small businesses have already temporarily shut down. Among those businesses still open, “40% report it is likely they will shut temporarily within the next two weeks.” These closures are swelling the ranks of the unemployed at an unprecedented rate, with 10 million people filing claims in the last two weeks.
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