Wednesday, January 27, 2021

60% of Small Businesses Closed for Covid-19 Will Never Reopen

Though mobile roaming revenues are a likely short-term hit to connectivity service provider revenues, business failures are going to be a longer-term issue for service providers serving the small business customer. 


Yelp’s September 2020 report on Covid-19 impact suggests 60 percent of businesses closed because of government edicts will never reopen. By the end of August 2020, Yelp found 163,735 businesses had closed since the beginning of March 2020.


Yelp says nearly 98,000 of those closures already are permanent. The heaviest blows have fallen on restaurants and retailers. Bars and other nightlife businesses also have suffered, but the restaurant segment is six times that of the “bars and nightlife” category, Yelp notes. 

source: Yelp 

source: Yelp 


source: Yelp

No comments:

Will AI Fuel a Huge "Services into Products" Shift?

As content streaming has disrupted music, is disrupting video and television, so might AI potentially disrupt industry leaders ranging from ...