52 percent of U.S. small business owners “expect to be out of business within six months.”

Full title : According to a Bloomberg survey, 52 percent of U.S. small business owners “expect to be out of business within six months.”
I would say it depends on what kind of loans the businesses have outstanding. I personally hope that people who have started a business have no where near the failure rate that this survey is projecting.

It is not just the states that are hurting as far as small businesses and people are hurting the world over from lack of customers and not having two nickels to rub together.

The data Snyder cites is coming from a new survey the Society for Human Resource Management conducted which discovered that 52% of small business owners expect to be closing their doors within six months.

johnbwellsnews.com...

www.msn.com...

Gloom grips US small businesses, with 52% predicting failure
That’s according to a new survey from the Society for Human Resource Management which found that 52% expect to be out of business within six months. The survey of 375 firms was conducted between April 15-21 and doesn’t account for improved business conditions as some U.S. states reopen this month.

“SHRM has tracked Covid-19’s impact on work, workers, and the workplace for months,” said SHRM Chief Executive Officer Johnny C. Taylor, Jr., “but these might be the most alarming findings to date. Small business is truly the backbone of our economy. So, when half say they’re worried about being wiped out, let’s remember: We’re talking about roughly 14 million businesses.”

a reply to: 727Sky

Youve been heavy on the doom threads lately, so in your opinion what's the end game, what do the tptb have to gain by forcing the peasants into a revolution ?

Of course they are all going to be out of business, I mean, how else will they get bail outs?

When this is over all these small businesses will be needed again, the banks can either give them a break or allow them to be bankrupt and start again later?

Seems to me like a call on the banks, be part of the problem or part of the solution.

a reply to: Forensick

As a small business owner I'm not getting a bailout, in fact which small businesses are getting bailouts to your knowledge.

As far as I can tell only big business gets bailouts, to big to fail, does that sound familiar?

I run a small business, about 50 employees. I Started it in 1982 and I expect that we will survive. Fortunately we were on our way to the most profitable year ever, and we carry little debt. I operate on my own money. For the last thirty five years we put the lion share of the profits back into the business. It keeps us free of any banking encumbrances, that’s really big for a construction company. It gives us a substantial edge on bid day.

The payroll protection program was a godsend, I had about 80 of my best customers close on the same day. It took a few weeks to get back on our feet.

This is the first time in my entire life, that I qualified for any kind of federal program. I don’t expect any more, and they usually come with to many strings attached to be viable for small businesses. After I receive the check for the PPP, I found out we couldn’t use any of the expenses paid with that money as standard deductions. Long story short, it is going to cost an additional $80K in taxes at the end of the next tax cycle. Had I known that up front, I may have made a different decision on the PPP. It probably would matter, as the stoppage came so abruptly, that I needed the money. Most of mine was tied up in projects.

I’m not looking for another bailout. It looks like the Democrats will put to many conditions on that money. I personally am, not willing to give one inch On personal freedoms for a check, and I don’t think the Senate Ill pass it anyway.

Isn’t it funny how the various government agencies closed everything down so quickly? As an electrical/HVAC company we qualify as an essential business, but it doesn’t matter if all of our customers were forced to close.

I except the recovery to be slow here in Tennessee, with a probable 10% downturn for our company this year. Our Governor (Bill Lee) is a business man and seems to show good sense. He is trying to get us back to some semblance normal. My heart goes out to my colleagues in Blue states. Most of the people I speak with there aren’t so optimistic.

I expect by November the overblown Pandemic will abate, just after the election. It will no longer be useful.

originally posted by: 727Sky
Full title : According to a Bloomberg survey, 52 percent of U.S. small business owners “expect to be out of business within six months.”

Well, since "only about half of small businesses survive passed the five-year mark, ranging from 45.4% to 51% depending on the year the business was started. Beyond that, only about one in three small businesses get to the 10-year mark and live to tell the tale", the significance of this survey can only be determined by statistics including when they started/how long they've been in business, etc...

I'm not a statistician, so not sure how to clarify or qualify this headline, but I don't think it is quite as ominous as it sounds.

a reply to: 727Sky

Survey says...
That surveys are unreliable.

originally posted by: hopenotfeariswhatweneed
a reply to: 727Sky

Youve been heavy on the doom threads lately, so in your opinion what's the end game, what do the tptb have to gain by forcing the peasants into a revolution ?

If I had to bet a certain large percentage is all about the coming elections, chaos,distractions and the blame game for nothing but baseless lies.......

NWO control of the population just as agenda 2020/2030 has brazenly stated....

Billions of dollars into a few select pockets for a vaccine I have serious doubts about. They have not got one for Sars, Mers, or even the common cold and they have been around longer than COVID-19.

I really do not feel/think I am contrarian as I try to see both sides of an argument . Amazing what you can learn by listening and reading.

I reflect back to China when the first knew they had a problem in Wuhan and yet they let 5 million travel out of Wuhan to many places around the world. Was their plan to infect the rest of the world and destroy the economies of their competitors ? If that was the case they screwed up either through being inept or just damn right subversive as more and more of the world are recognizing CCP/PLA are no ones friends unless they think they can use you.

I am perplexed how CNN and other MSN outlets who have spouted the lies that have been proven false for the last 3 years can look into the camera and expect anyone to believe them. Also If I was a talking head who had been feed B.S. by my lying insiders (who knew they were pushing falsehoods) I would be pissed at myself for believing them.
Jesse says it all IMO during the first segment youtu.be...

originally posted by: hopenotfeariswhatweneed
a reply to: Forensick

As a small business owner I'm not getting a bailout, in fact which small businesses are getting bailouts to your knowledge.

As far as I can tell only big business gets bailouts, to big to fail, does that sound familiar?

I am a small business owner as well, and am networked with many other small businesses. People actually believe that the guy with 20, 30, 50 employees got any bailout? LOL!!!!!

Sure a VERY few did, but most of us are out here with our asses in our hands wondering what the hell happened.

This is likely a premise for the fed to change the money into something less tangible. Think about it. Digital currency can be much easier manipulated as the value of the dollar falls. Perhaps they are gearing up for a correction/shuffle of currency. Can't do that if everyone has a marker out there that says they're worth more than the fed can reimburse for.

Hence, drop the general wealth of the nation to a point where money is more manageable as its reconfigured or collapsed altogether. It has happened a few times in this country over the years. Lets just hope we don't become Zimbabwe.

restaurant owner here. Have about 20 employees. We are still waiting on our "bailout"

Business is so slow now i wouldn't expect to make it another 6 months. Everyone is afraid to come out. This is normally our busiest time of year where we make most of our money as well.

This is how the elite destroy the middle class and make way for a two tier society. We've been saying this for years now. It is happening now.

Extremely rich and extremely poor. No middle class. A society of debt slaves who think they are free.

Ill probably leave United States in a year or two. this place is going to hell quick.

a reply to: odd1out

Same with us poor people and that 1200 check. Most of us didn't and wont get it.

I think all the rich people and big businesses just robbed the country with the governments help.

a reply to: 727Sky

It doesn't help when businesses who do not need SBA loans get them when those who really need them can't. My son inlaw's company owner is under investigation right now. He got the loans (under the pretext of paying employee wages) and then made employees use their bank hours and PTO time to continue to get paid during mandatory quarantine.

a reply to: hopenotfeariswhatweneed

To scare people into voting a certain way.

I mean, they've done some interesting things indirectly associated with this covid issue, while it is an issue, the "extra" things unrelated happening, are pretty wild.

Talks of crypto
New potential rights violations for tracking
Voting by mail?!?! ( no thanks )


I mean, I got work to do, but could find a few more things, but overall, sounds like our way of life is going to change more from the policies of all this, then the covid issue itself.

It depends on fixed costs and costs to restart.

For the vast majority it's rent and utilities. Most places like salons, restaurants and hotels can't survive with three months of no income and then another 3-6 of 50% income.

The don't have enough money to pay rent/mortgage and utilities.

What needs to be done is a special type of bankruptcy. The banks, landlords, and utilities aren't going to get their money. These small businesses are going to file. Normally, what happens is the business ends, the creditors get what's left, which is usually nothing, and the small business takes a credit hit.

So let small businesses file for bankruptcy. Their debt is forgiven (which it would be in normal times). Only this time the credit doesn't take a hit and they are allowed to continue their mortgage and lease.

This is a much better alternative to simply disbanding the business.

a reply to: 727Sky

My martial-arts instructor had to close his doors due to the nature of the business--there was no way to keep it open, and being a close-contact, sweaty activity that costs disposable income, the outlook of a quick return of students was so bad that he wasn't willing to take on loans to keep things afloat without foreseeing a way to be able to pay them back.

It sucks, too, because I was an instructor there, AND he has since moved out of state, so I lost a passion, a school, and a friend because of this. It rather sucks, and I hate it for the businesses who have taken on added debt who will not be able to repay it before closing down. I despise that our governments have willingly put people in this position.

originally posted by: odd1out

originally posted by: hopenotfeariswhatweneed
a reply to: Forensick

As a small business owner I'm not getting a bailout, in fact which small businesses are getting bailouts to your knowledge.

As far as I can tell only big business gets bailouts, to big to fail, does that sound familiar?

I am a small business owner as well, and am networked with many other small businesses. People actually believe that the guy with 20, 30, 50 employees got any bailout? LOL!!!!!

Sure a VERY few did, but most of us are out here with our asses in our hands wondering what the hell happened.

Oh I know what happened, goverment bent us over and .......

a reply to: Tranceopticalinclined

Absolutely this covid issue is used so the rich get richer at the expense of pretty much everyone else, and for some reason people still idilose politicians that are complicit in bringing this to fruition.

originally posted by: 727Sky
Full title : According to a Bloomberg survey, 52 percent of U.S. small business owners “expect to be out of business within six months.”
I would say it depends on what kind of loans the businesses have outstanding. I personally hope that people who have started a business have no where near the failure rate that this survey is projecting.

It is not just the states that are hurting as far as small businesses and people are hurting the world over from lack of customers and not having two nickels to rub together.

The data Snyder cites is coming from a new survey the Society for Human Resource Management conducted which discovered that 52% of small business owners expect to be closing their doors within six months.

johnbwellsnews.com...

www.msn.com...

Gloom grips US small businesses, with 52% predicting failure
That’s according to a new survey from the Society for Human Resource Management which found that 52% expect to be out of business within six months. The survey of 375 firms was conducted between April 15-21 and doesn’t account for improved business conditions as some U.S. states reopen this month.

“SHRM has tracked Covid-19’s impact on work, workers, and the workplace for months,” said SHRM Chief Executive Officer Johnny C. Taylor, Jr., “but these might be the most alarming findings to date. Small business is truly the backbone of our economy. So, when half say they’re worried about being wiped out, let’s remember: We’re talking about roughly 14 million businesses.”

Think about the impact that would have on income tax dependent states.

Lots of public sector job losses follow that.

Hope the modern liberals are happy - welcome to a crappy future with fewer rights and fewer jobs.

Hope they’re happy.

48 percent of all US employees work for small businesses, down from 52 percent in the early 2000s. 18 percent of all US employees work for businesses with fewer than 20 employees.

Small business' create almost half of the jobs in the U.S. This will not be a quick and easy recovery. That's why Trump and the most of the conservatives want to get the country back on track ASAP. It's vital.