Study: Small Business Owners Worried About Surviving Holidays
Dec. 14, 2021—This holiday season will prove to be a pivotal one for many small business owners.
An American Express study has found 78 percent of small businesses owners say holiday sales this year will determine whether or not they can remain open, Channel 3000 reported. With supply chain and hiring issues, a bad next month could be the downfall of a considerable number of businesses.
According to the U.S. Bureau of Labor Statistics, 20 percent of new businesses close within their first year and just one-third make it 10 years.