AUSTIN, TX — Austin has the nation’s largest share of small business owners who think they won’t be able to recover from the corrosive economic effects of the coronavirus, according to a study released on Wednesday.
Researchers at LendingTree, the nation’s largest online lending marketplace, analyzed results from the U.S. Bureau of the Census Small Business Pulse Survey before calculating the percentage of small business owners in the 50 largest U.S. metros who believe economic recovery is beyond their reach.
Among the key findings:
Neighboring San Antonio ranked second, with 14.9 percent of respondents not believing their business will recover from the pandemic. Moreover, more than 62 percent of San Antonio small business owners believe it will take at least four months before business is back to normal.
At the other end of the spectrum, small business owners in some cities do see light at the end of the tunnel