Since late last year, nearly one in five small businesses has received financial help from the federal government’s Paycheck Protection Program. That’s among the findings of a new Census Bureau survey.
Sixty-seven percent of small businesses in Arizona described being negatively impacted by the pandemic, 5 percentage points lower than the national average.
The U.S. Census Bureau’s Small Business Pulse Survey found more than 17% of small businesses in metro Phoenix expect it will take four to six months for operations to return to normal while more than 35% said it will take more than six months. Nationally, 40% expect it will take more than six months.
Other findings based on responses collected between March 8 and 14:
- 10% of U.S. small businesses saw higher revenues/sales in the last week.
- 7% of U.S. small businesses had more paid employees in the last week.
- 18% of U.S. small businesses have received help from the Paycheck Protection Program since Dec. 27, 2020.