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Nearly half (49%) of all minority small business owners and a third (33%) of all small business owners were unable to pay their rent this month, according to the latest survey from Alignable. 35% of women-owned businesses reported an inability to pay rent as well.
Between the lines: For the first time in the survey's history, at least 40% of respondents in 10 business categories said they couldn't afford to pay their rent.
- That's up from six business categories in December and just two in November.
Why you'll hear about this again: "Based on this analysis, it's clear to see that COVID's negative affects are becoming more widespread as we start 2021," analysts noted in the survey.
- "And according to other Alignable pollcovs this month, most entrepreneurs do not expect to see much of a recovery until at least May 2021."
- "More categories than ever are showing the lasting effects of dwindling customer counts, reclosures due to escalating COVID cases, cash flow crises, decreasing revenue, and related issues."