Yahoo Small Business, a division of Verizon Business, today released the findings of the Yahoo Small Business 2021 Microbusiness Outlook Report, a new survey exploring the state of microbusinesses (businesses with five or fewer employees) in the U.S. and their outlook as they emerge from the COVID-19 pandemic. A highlight of the findings are as follows:
- 50% of microbusiness owners continue to struggle with the economic impacts of COVID.
- 38% have received or expect to receive government support, but 61% expect that support to fall short of fully addressing their financial needs.
- 85% of the surveyed businesses say community support was crucial to keeping them afloat. The survey’s findings underscored the critical role that community support played for microbusinesses during the pandemic. Among those microbusiness owners still feeling the impact of COVID-19, two thirds (66%) have considered closing.