Coronavirus has dealt a heavy blow to small businesses in the U.S., as many “non-essential” businesses have been forced by state governments to shut their doors until the pandemic passes. With most of the U.S. under some form of lockdown, some businesses have managed to adapt by having employees work remotely. However, many business owners have been forced to lay off staff and have watched their revenue plummet to zero.
A recent WalletHub survey found that 87 percent of small business owners say their business is hurting from the coronavirus, and 35 percent say that their business cannot last more than three months in current conditions. Businesses are more impacted by COVID-19 in some states than others, though.
In order to find out where the pandemic has caused businesses to struggle most, WalletHub compared the 50 states and the District of Columbia across 12 key metrics. Our data set ranges from the share of small businesses operating in high-risk industries to small-business credit conditions and the state’s small-business friendliness. Read on for WalletHub’s ranking, along with additional commentary from a panel of experts and a full description of our methodology.
Maryland ranks 40th which is low on this study and thus is faring better than other states.
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