"It's Really Bad" - Almost One-Third Of Small Businesses In NY, NJ Have Closed

[Gefn]

It's Really Bad" - Almost One-Third Of Small Businesses In NY, NJ Have Closed

Here comes the next recession as nearly one-third of small businesses in New York and New Jersey remain closed since the virus pandemic began earlier this year.

The NYPost outlines small business data from Opportunity Insights and New Jersey Business & Industry Association paint a troubling outlook for the rest of 2020 into 2021.

Opportunity Insights' TrackingTheRecovery.Org, a Harvard database that monitors economic activity for the US, currently says 27.8% of small businesses in New York remain closed. The same goes for New Jersey, where 31.2% of small businesses had not reopened.

The New Jersey Business & Industry Association reports similar figures with 28% of New Jersey's small businesses have closed up shop this year.

https://www.zerohedge.com/markets/its-really-bad-almost-one-third-small-businesses-ny-nj-have-closed