Many Small Businesses In The Services Sector Are Unlikely To Reopen
Many Small Businesses In The Services Sector Are Unlikely To Reopen -- this post authored by David Dam, Sebastian Heise, Davide Melcangi, and Will Schirmer The services sector was hit hard during the COVID-19 pandemic. Small businesses were particularly affected, and many of them were forced to close. We examine the state of these firms using micro data from Homebase (HB), a scheduling and time tracking tool that is used by around 100,000 businesses, mostly small firms, in the leisure and hospitality and retail industries. The data reveal that 35 percent of businesses that were active prior t...
Source: econintersect.com