Small businesses are losing confidence in their survival

Small businesses have largely exhausted their federal funding and are starting to lay off workers, with many worrying about having to shut their doors for good, according to a new survey from Goldman Sachs provided exclusively to Axios.

Why it matters: Business still has not returned to normal, six months after the coronavirus pandemic first appeared in U.S. But small firms say the money they received from the Paycheck Protection Program has run dry.

In a survey of 860 Goldman Sachs 10,000 Small Businesses alumni, conducted Sept. 1-2, 88% of the small business owners say they have used all of their PPP loan funding.

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