Globally, small businesses that closed early in the pandemic were about 3x as likely as larger businesses to remain closed long term
closures
LOCATION
E-COMMERCE
ENTREPRENEURSHIP
RECOVERY
Spending at SMB retailers in central business districts is down 33% vs. 2019, while sales at suburban small retailers grew 8%
Following shutdowns, the number of small businesses going online each month tripled from pre-pandemic levels, peaking July 2020
One-third more small retailers launched in 2020 compared to 2019, nearly 8x the number of larger firms created
Consumer spending at small retailers is up 4.5% through August 2021 YTD compared to the same period in 2020, with e-commerce up over 30%
