Fed small business survey paints grim picture
About one-quarter of small businesses do not expect to survive without further government assistance, according to the 2020 Small Business Credit Survey.
The survey, released by the 12 Federal Reserve regional banks on February 3, found widespread pessimism and revenue losses across the sector.
Nearly 80% of the businesses replying said they had lost revenues during 2020. An even greater proportion (91%) had sought financial assistance.
More than four-fifths of respondents (82%) applied to
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