Texas ranked 39th out of all 50 states and the District of Columbia in a survey of states whose small businesses were impacted the most due to the stay-at-home orders.
“The coronavirus has dealt a heavy blow to small businesses in the U.S., as many ‘non-essential’ businesses have been forced by state governments to shut their doors until the pandemic passes,” Adam McCann, financial writer for WalletHub says. “With most of the U.S. under some form of lockdown, some businesses have managed to adapt by having employees work remotely. However, many business owners have been forced to lay off staff and have watched their revenue plummet to zero.”
The new WalletHub survey found that 87 percent of small business owners say their business is hurting from the coronavirus; 35 percent said that their business cannot last more than three months in current conditions.
The study focused on three key focus areas and 12 key metrics. The data set ranged from the share of small businesses operating in high-risk industries to small-business credit conditions and the state’s small-business friendliness.
In the “Impact and Access to Resources” category, Texas ranked 37th; in the “Small-Business Financial Conditions,” Texas ranked 12th; in the “Business Environment and Workforce Support Conditions” category, Texas ranked 42nd.
States Whose Small Businesses Are Most Affected by Covid-19
|Overall Rank||State||Total Score||“Impact & Access to Resources” Rank||“Small-Business Financial Conditions” Rank||“Business Environment & Workforce Support Conditions” Rank|
|51||District of Columbia||29.57||51||19||13|