Texas ranks 39th highest in study of small businesses affected by coronavirus

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
1 Hawaii 69.87 2 22 2
2 Nevada 64.86 3 10 9
3 South Dakota 62.93 5 21 14
4 Mississippi 60.72 10 9 10
5 South Carolina 59.63 7 5 30
6 Louisiana 57.68 34 1 3
7 Arizona 56.96 13 28 7
8 Nebraska 56.77 15 25 8
9 North Carolina 56.67 21 13 11
10 North Dakota 56.52 18 23 12
11 West Virginia 56.15 6 11 38
12 Georgia 55.66 28 8 6
13 Kentucky 55.28 16 26 18
14 Tennessee 54.86 25 4 20
15 Montana 54.27 1 42 49
16 Florida 54.17 22 2 27
17 Idaho 53.62 8 14 47
18 Wyoming 53.45 4 27 50
19 Maine 53.20 19 18 25
20 New Mexico 51.66 9 49 21
21 New Hampshire 51.39 12 51 1
22 Arkansas 49.54 27 6 33
23 Kansas 49.49 36 29 15
24 Washington 48.80 20 24 37
25 Vermont 48.52 17 48 22
26 Virginia 48.45 35 39 5
27 Alabama 48.08 24 35 32
28 Michigan 47.93 44 37 4
29 Delaware 47.89 31 30 26
30 New York 47.46 29 20 34
31 Iowa 47.26 33 31 24
32 Alaska 46.83 23 3 51
33 Indiana 46.50 41 33 16
34 Oklahoma 46.46 26 17 44
35 Utah 46.41 14 44 35
36 California 45.95 43 32 19
37 Rhode Island 45.76 32 43 23
38 Colorado 45.21 11 45 43
39 Texas 44.24 37 12 42
40 Maryland 43.27 38 46 17
41 Missouri 42.33 40 15 39
42 Oregon 42.32 30 38 46
43 New Jersey 41.93 50 7 29
44 Minnesota 41.23 39 40 28
45 Illinois 39.54 46 16 40
46 Connecticut 36.62 47 36 41
47 Wisconsin 36.25 42 41 45
48 Ohio 36.13 48 47 31
49 Pennsylvania 34.63 49 34 48
50 Massachusetts 31.88 45 50 36
51 District of Columbia 29.57 51 19 13

Source: WalletHub.com



Interested in more news from Texas? We've got you covered! See More Texas News
Previous Article
Next Article