Small businesses expect longer, milder impact from pandemic

The Census Bureau released new phase two data from its Small Business Pulse survey last week, showing some of the sectors most impacted by the coronavirus pandemic.

What they found: Hiring and rehiring have slowed and businesses now broadly say they expect recovery from the pandemic to take much longer than previously thought.

  • 44% of respondents expect recovery will take six months or longer and 10% say they don’t ever expect to recover. This compares to 31% who said at least six months in the first week of the survey and 6% who said never.
  • But more small firms say the pandemic will have a moderate negative impact on business than a large negative impact (45% vs. 34%) compared to the first week of the survey (39% vs. 51%).