Mar 19, 2020 - Economy & Business

96% of small business owners are already feeling coronavirus impact

Photo: Andrew Lichtenstein/Corbis via Getty Images

More than half of U.S. small business owners say their business will not be able to continue operating more than three months due to economic strain caused by the coronavirus pandemic, according to a Goldman Sachs survey of more than 1,500 small business owners conducted March 16-17.

Why it matters: Much of the conversation around the economic effects of the outbreak has centered on the stock market and bailouts for large corporations, but its most acute impacts are being felt on Main Streets around the country.

Axios Visuals

Go deeper: The coronavirus pandemic is hitting Main Street

Go deeper

The coronavirus pandemic is hitting Main Street

Illustration: Aïda Amer/Axios

America is grinding to a near halt to slow the spread of the coronavirus outbreak. It's wreaking unprecedented havoc on the restaurant and retail industries — and their millions of workers.

Why it matters: Amid all the discussion about how the pandemic is roiling Wall Street, its most acute impact is being felt on Main Streets around the country.

Americans are calm about their retirement savings despite coronavirus fallout

Data: CivicScience surveys; 14,940 total respondents; MOE ± 2%; Chart: Axios Visuals

New data from CivicScience show Americans remained calm about their retirement savings between late January and mid-March, despite significant losses in the stock market.

The intrigue: Bank of America Securities' Bull & Bear indicator has fallen to its lowest possible level, zero, indicating a strong buy signal.

Economists say Trump's coronavirus reopening plan is dead wrong

Illustration: Sarah Grillo/Axios

President Trump's proposal to get business around the country back open by Easter Sunday, April 12, will do more harm to the economy if the coronavirus outbreak has not been contained, economists say.

Why it matters: Such a plan would sow uncertainty in markets and among customers and business owners and make the recession longer and harsher.