The State of Small Business
Since Hello Alice first launched their COVID-19 Business for Emergency Grants on March 26,2020 thousand of business owners have submitted applications . As their team reviewed each submission, an analysis painted a picture of how small businesses are faring. Here’s a snapshot:
68% = the percentage of applicants who have pivoted their business duets the coronavirus
58% = the percentage of grant applicants who need immediate funding to weather the crisis
26% the percentage of said reduce sales due to social distancing was the biggest impact COVID-10 has had on their business
$10,000-$25,000 = the amount of capital most applicants need for their business to survive COVID-19 Alice also says the pandemic is truly national with applications from all 50 states. The top five locations include California (18.8%0, New York (12%), Texas (9.1%), Florida (5.5%), and Georgia (3.7%). All industries were represented with business from Healthcare and Wellness, Professional Business Services, Food and Beverage, Consumer Goods/Retail, and Arts & Entertainment sectors making up the bulk of applications.
Continue to keep an eye on the Alice COVID-19 Business Resource Center for the latest resources and information: https://www.covid19businesscenter.com/utm_source=Alice&utm_medium=newsletter&utm_campaign=COVID&utm_content=SMBStatus&mc_cid=a2b7e99368&mc_eid=cd82316988
Courtesy HelloAlice.com – Help to start and grow a business.