New BiggerPockets Article: Small Businesses Are Struggling Most in These States

My newest article for BiggerPockets digs into current crisis of small business closures which I have touched on on this blog several times (see here and here). Yes, the US economy is recovering from the Covid-19 Recession, but it's an uneven recovery favoring big business over small.

A devastating analysis by Visual Capitalist shows just how much damage has been done (and is still being done) by COVID-19 and the lockdowns.

“Small businesses are the backbone of the U.S. economy, employing nearly half of the private sector workforce.
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“Unfortunately, lockdown and work-from-home measures brought about by COVID-19 have disproportionately affected small businesses—particularly in the leisure and hospitality sectors.

And further as the report notes,

 “Small businesses in the leisure and hospitality sector have been particularly hard hit, with 37% reporting no transaction data.”

Luckily (for me at least), Kansas City is doing the second best of all metro areas behind only Omaha. Unfortunately, it's still down 15 percent. This is a huge problem that hopefully Biden will address, although I kind of doubt it.

Please check the article out.