How COVID-19 Has Affected Metro Atlanta Small Business
THE IMPACT OF COVID-19 ON CITY OF SOUTH FULTON BUSINESSES gives firsthand insight from small business owners on how the pandemic has affected their business operations. These insights offer a representative example of the predicament of small businesses throughout metro Atlanta. Key takeaways from the survey results are summarized below.
Click to view the full survey report.
Over 62% of businesses suspended all storefront operations due to COVID-19.
Over 63% of small business reported a loss in revenue of 50% or more.
41% of businesses reported revenue losses of 75% or more due to COVID-19.
The top 3 concerns for surveyed businesses were: losing work (clients, projects, sales) paying rent, and accessing government support.
Surveyed business owners reported loss of business revenue, business closure and change of business model as the 3 greatest impacts that COVID-19 had on their operations.
31% of survey respondents were at risk of closing operations within 60 days. 23% would be forced to close within 5 months.
Less than a third (29%) of businesses indicated they were not at risk of closing due to the pandemic.
66% of survey respondents had no online sales presence at all.
73% of those businesses with an online sales presence estimated that online sales accounted for 25% of total revenue.
67% of the small businesses surveyed use social media for business reasons,
with Facebook and Instagram being the most heavily used social media platforms.
More than 50% of respondents applied for financial assistance under the CARES Act.
Over 98% of small business survey respondents have received no assistance from the Federal CARES Act.
Sage & Digital provides digital marketing and digital operations support to small- and micro- businesses. We help early stage businesses use web-based technology and digital storytelling to generate leads, increase revenue, and establish consistent business processes and systems. We help early stage business owners develop the skills needed to become influential business leaders.
Contact us: www.sagedigitalpro.com | Email: info@sagedigitalpro.com
