When Do Arizona Businesses Expect Return To Normal?
Since late last year, nearly one in five small businesses has received financial help from the federal government’s Paycheck Protection Program. That’s among the findings of a new Census Bureau survey.
Sixty-seven percent of small businesses in Arizona described being negatively impacted by the pandemic, 5 percentage points lower than the national average.
The U.S. Census Bureau’s Small Business Pulse Survey found more than 17% of small businesses in metro Phoenix expect it will take four to six months for operations to return to normal while more than 35% said it will take more than six months. Nationally, 40% expect it will take more than six months.
Other findings based on responses collected between March 8 and 14:
- 10% of U.S. small businesses saw higher revenues/sales in the last week.
- 7% of U.S. small businesses had more paid employees in the last week.
- 18% of U.S. small businesses have received help from the Paycheck Protection Program since Dec. 27, 2020.