No matter what metric you look at, business is more likely down than it was a year ago. And in some cases, it is dangerously down as many small businesses struggle to stay open in the midst of a pandemic. This has increased the frustration owners are feeling with the lack of local and state aid. So much so, 86% of small business owners say they have not received state or local aid, despite such aid being available to them.
Even if the aid is available, some business owners are reluctant. Close to a quarter or 23% say the terms of the help was unclear, while another 21% say they are not interested in amassing more debt. Moreover, 13% are citing a “distrust of government-backed financial programs.”
This however doesn’t mean small business owners are not getting the help they need. According to Fundera, which conducted the survey, of the businesses which accepted aid, more than half received a grant. And almost a third accepted a loan, while another 8% benefited from rent relief and over 5% from tax relief.
You can read the rest of, “Lack of State