Bounceback: Small Businesses Are Nearing Pre-Pandemic Sales Levels
Although small businesses in general continue to climb back to their pre-pandemic level of sales, a recent national survey found the smallest firms are still hurting. Small-business sales as a whole have reached 80 percent of pre-pandemic levels, according to a recent survey conducted by Kabbage, a fintech company that provides funding to small businesses. That average is primarily supported by medium-size and large small businesses, which Kabbage defines as companies with 21 to 500 employees. But for the smallest businesses–firms with fewer than 21 employees–sales remain hobbled. The survey, which was conducted between May 27 and June 24, noted that the smallest businesses regained just 55 percent of pre-pandemic sales, putting into perspective their path to recovery, which gravely contrasts that of their larger peers, according to the survey. Read more at Inc.
