Second phase of U.S. Census Bureau survey on COVID-19 impact on small businesses finds respondents more likely to expect a longer road back to normalcy
Majority of respondents report negative impact on business, but some positive signs such as healthy cash on hand and minimal missed loan payments
Businesses see marketing/sales and additional capital as key future needs
Enforcement of Connecticut’s rigorous COVID-19 rules has helped maintain consistently low infection rates, but this also has the potential to harm the state’s economy
Hotels and lodging have not been asked to screen guests, though several have done so voluntarily
Health commitment has been used in tourism marketing, but pitches are limited to neighboring states
Small businesses rely heavily on the U.S. Postal Service for shipments
Delays occasioned by the pandemic and recent operational changes under the Postmaster General result in extra fees, forced refunds, and harm to reputation
E-commerce groups push back against proposed hikes to shipping prices
The Paycheck Protection Program gave out billions in loans to small businesses suffering from the effects of the COVID-19 pandemic, but other business loans are becoming scarcer
Less than one in four loans were approved in July, compared to pre-pandemic levels of around 50 percent
Banks are less willing to take on the risk of lending to businesses, while companies have also held off on investment plans
