Small Businesses in US Retail: Five Things To Know About Their Pandemic-Led Collapse and Renaissance

What's Inside

Small businesses were hit especially hard at the outset of the pandemic-induced economic crash but have since recovered well.

We discuss the state of small businesses in the US today, with a focus on retail. We draw comparisons to the recovery of small businesses following the 2008 global financial crisis (GFC) to frame the current rebound. We present five things to know across the following topics:

1. Business closures at the outset of the Covid-19 crisis
2. Patterns of closures amid the GFC and Covid-19
3. New openings of small businesses
4. Pandemic recovery so far and the challenges ahead
5. Small businesses that are best positioned to thrive moving forward