As the coronavirus pandemic lingers, an updated survey completed last week by the Small Business Association of Michigan reveals that one-in-seven small businesses of all types across the state are not confident they will survive the COVID-19 battle. 
Fully 14-percent of small businesses responding to the survey are fearful that the pandemic will mean the demise of their enterprise according to SBAM.
SBAM President Brian Calley tells us, “The COVID-19 pandemic and closure orders have created such an uphill challenge for small businesses that one out of every seven in Michigan aren’t sure they’ll be able to recover,” and adds, “Michigan small businesses are truly struggling to survive.”
The survey, conducted in late April of more than 1,300 Michigan small businesses, also found that 60-percent of businesses have had to lay off at least one employee.
Additional results revealed:
- Nearly 45-percent of small businesses are closed.
- More than 50-percent of small businesses don’t have the ability for their employees to work from home.
- 72-percent of surveyed businesses have applied for the Paycheck Protection Program, and 43-percent have applied for other loans or advances.
- 56-percent of small businesses don’t believe they will be able to implement split shifts to limit exposure to the virus.
- 35-percent of small businesses would need additional physical space to meet social distancing guidelines.
- 44-percent of small businesses said they don’t qualify for classification as critical essential infrastructure.
SBAM CEO Rob Fowler says, “These are extremely difficult times for Michigan’s small businesses and the results of this survey confirm those facts.” Fowler adds, “SBAM is doing everything we can to help small businesses get through these times so they can hopefully return to their place as the backbone of our economy.”
The Small Business Association of Michigan focuses solely on serving the needs of Michigan’s small business community through advocacy, collaboration and buying power. Today they serve over 28,000 members in all 83 counties of Michigan. SBAM is located in Lansing, just one block from the State Capitol.
