NEW YORK–Even with a number of recent positive economic forecasts, a new survey of nearly 9,000 small business owners finds many are struggling.
According to Alignable's March Rent Poll of small business owners:
- In January, 33% couldn't cover their rent
- In February, that figure jumped 5% to 38%
- Now in March, it's up another 11% -- 49% of all small businesses couldn’t cover their rent this month
And for the minority-owned and women-owned businesses, the rates are even worse, according to the company.
- 67% of minority-owned businesses couldn’t afford March rent (up from 58% last month)
- 53% of women-owned businesses had the same struggles (up from 41% in Feb.)
Industry-wise, the situation is just as daunting, the rent poll found:
- 63% of restaurant owners didn’t have enough money to cover rent
- The same problem was encountered by 62% of caterers, 59% of beauty salons, 56% of massage therapists & 50% of retailers. As the report shows, these numbers are all up from January