February 12, 2021
1 in 6 Small Business Owners Considering Closing Permanently
“We are not headed in the right direction and each week that passes without improvement on the business front pushes more owners to make that final decision,” said Simon Gaudreault, senior director of national research at the small business association. “The more businesses that disappear, the more jobs we will lose and the harder it will be for the economy to recover.”
Businesses in the hospitality and arts and recreation sectors are most at risk, with roughly one in three actively considering closing. This includes restaurants, hotels, caterers, gyms and arts venues.
The beginning of 2021 feels more like the fifth quarter of 2020 than a new year.
It would appear that things have got worse not better since the summer of 2020.
A great article by Barbara Shecter from the National Post.
It builds on what we have been saying for quite some time and the impact is going to be very significant for our ecosystem.
If you are in B2B Telco you will want to read : https://www.linkedin.com/feed/update/urn:li:activity:6655236691483246592/
We have previously posted the following 2021 bankruptcy predictions :
1) 3m SMBs in EU & UK : https://www.linkedin.com/feed/update/urn:li:activity:6753671397521944576/ 2) 2m SMBs in USA : https://www.linkedin.com/feed/update/urn:li:activity:6746102788197097472/ 3) 225,000 in Canada : https://www.linkedin.com/feed/update/urn:li:activity:6746100100239630336/ 4) Millions globally to go bankrupt : https://www.linkedin.com/feed/update/urn:li:activity:6744258106861199360/