Subscribe to Entrepreneur for $5
Subscribe

3 Ways You Can Help Save Your Favorite Small Business

One in four small businesses could fold in the next six months. Individuals can help – at little personal cost.

By
Opinions expressed by Entrepreneur contributors are their own.

Coronavirus-related lockdowns laid waste to small businesses and local economies in 2020. Layoffs at small businesses jumped more than 1,000 percent during the first wave of lockdowns in March and April, and by the fall, more than 100,000 small businesses had permanently closed.

Many small business owners worry that economic recovery will be excruciatingly slow this year. Although President Biden hopes to vaccinate 300 million Americans by the fall, new research indicates that strict social distancing measures must continue through July to effectively limit new infections. Government initiatives, such as the CARES Act and President Biden’s new relief bill, have provided some relief, but one-in-four small businesses could still fold in the next six months.

Memorial Day Subscription Sale- Unlock this subscriber exclusive article and more for 20% off today.

Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.

Get a year subscription today for 20% off. Just use code SAVE20 at checkout.

Entrepreneur Editors' Picks