30% of small businesses say they don’t expect to reopen, most due to bills and rent

30% of small businesses say they don’t expect to reopen, most due to bills and rent

30% of small businesses say they don’t expect to reopen, most due to bills and rent
Reading Time: < 1 minute(Last Updated On: May 19, 2020)

A recent survey conducted by Facebook found that one-third of small businesses that have closed due to the coronavirus pandemic don’t expect to reopen in the future. Reasons for that vary, but most small business owners say that the cost of bills and rent would stand in the way of opening back up.

That said, the survey also found that only 9% of small businesses closed because of financial challenges while 62% cited compliance with government or health authorities as their reason for shutting down.

Read the full report, here.

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