The State of Local Businesses

There are more than 400 million small- and medium-sized businesses (SMBs) worldwide. SMBs account for 95 percent of all businesses and 70 percent of employment, making them the largest source of job creation globally. A 2020 survey published by Parks Associates reports as many as 29 percent of SMBs in the United States are at risk of going out of business due to COVID-19.

We interviewed 1,000 small businesses in this 3-part series get the insights into this shift of what has happened.

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