Facebook’s Report Shows How SMBs Were Affected by Novel Coronavirus
It seems like small businesses have suffered the most because of the whole situation around the outbreak. Facebook’s new report sheds some light on how SMBs are being affected by the novel coronavirus.
According to Facebook, most of the businesses that are not able to operate now are hotels and restaurants. Businesses providing services have been affected by the lockdowns too.
Facebook’s data shows that 31% of SMBs have stopped operating entirely. And more than half of personal businesses have been shut-down.
As expected, more than 50% of businesses are seeing lower sales than in the previous year. But the situation is not that grim for businesses that work with information and communications.
Besides that, the survey shows that many small and medium businesses are optimistically expecting to open again after the quarantine.
You can access the full text of the report here.