Azlo’s COVID-19 Small Business Survey

According to the survey of small business banking customers, 77% of small business owners have already been negatively impacted by COVID-19 and another 16% anticipate they will be impacted. In addition, over 30% said they have experienced up to 100% loss of monthly revenue.

Key points:

- 94% say COVID-19 has negatively affected their business or soon will. Only 6% said it wouldn’t.

- 34% expect COVID-19 will cause up to a 100% reduction in monthly revenue

- 53% are saving cash to weather the storm

- 44% are researching government stimulus programs

- 36% are trying to get loans

- 32% are spinning up a new business

- 73% want a government stimulus package to survive

- 62% want more aggressive measures to stop the spread of the virus