Nearly half (49%) of all minority small business owners and a third (33%) of all small business owners were unable to pay their rent this month, according to the latest survey from Alignable. 35% of women-owned businesses reported an inability to pay rent as well.
Between the lines: For the first time in the survey’s history, at least 40% of respondents in 10 business categories said they couldn’t afford to pay their rent.
- That’s up from six business categories in December and just two in November.
Why you’ll hear about this again: “Based on this analysis, it’s clear to see that COVID’s negative affects are becoming more widespread as we start 2021,” analysts noted in the survey.