New data by Biz2Credit reveals small business revenues have dropped by 52% during the pandemic. The reported revenue of small business plummeted by 52% compared to the same period last year.
During the second quarter (April-June) of 2020 small businesses, average revenue was $193,865 down from the healthy $405,030 of last year.
The data collected from 300 small business owners also note that payroll expenses had dropped by 54%. Last year businesses on average spent around $137,126 on payroll.