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Small Business Owners Show Cautious Optimism In COVID-19 Impact Poll

  • Jessica Moser visits the Small Business Radio Show to discuss the latest results of a Met Life/U.S. Chamber of Commerce poll on COVID-19 impact
  • Most small businesses said they had fully or partially reopened at the time of the survey
  • Small businesses show more optimism about future revenues and ability to rehire employees

Small business owners showed more optimism in the most recent Small Business Coronavirus Impact Poll from Met Life and the U.S. Chamber of Commerce. Jessica Moser, Senior Vice President, Small Business Solutions at MetLife, visited the Small Business Radio Show to discuss the survey results.

Of the approximately 500 small businesses in the latest poll, 79 percent said they had partially or fully reopened in June. While fewer respondents said they were “very concerned” about the impact of COVID-19, more than eight out of 10 said they were responding to the pandemic with modifications such as more frequent cleaning or having employees monitor themselves for symptoms of the virus.

Fifty-three percent said they believed their business was in good health, a rapid turnaround from April when 60 percent said they were concerned about their company. The trend was most prominent in the Northeast, where the share of respondents saying their business was in good health rose from 41 percent in April to 59 percent in June. More than half of all respondents were happy with their cash flow, while 50 percent said they expect their revenues to increase next year.

In the interview, Moser says companies have been successful by adapting their business to the needs of their employees and customers, including an increased digital presence, shortened hours, and modified staffing. Sixty percent said they anticipate maintaining their normal staffing levels, but three in 10 said they believe they will need more guidelines on keeping their customers and employees safe.

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