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Coronavirus Survey: Small Businesses and Workers Can’t Afford Quarantine

April 01, 2020 / Julie Hirschhorn
SHARESHARESHARE

Half of America’s small businesses can’t afford to pay employees for a full month under the current economic lockdown meant to slow the spread of the coronavirus pandemic. This is according to new surveys released today by SHRM (Society for Human Resource Management). The research found most businesses expect to see a decrease in revenue, while businesses in certain sectors can expect even greater losses. Additionally, a majority (58 percent) of American workers will be unable to meet basic financial needs within a period of 30 days or less. The surveys polled a sample of American workers, HR practitioners, and small business owners regarding the expected economic impact of the coronavirus on their organization. Findings include: