57% Of Small Businesses Nationwide Say CARES Act Could Be Too Little Too Late

BOSTON, March 30, 2020 /PRNewswire/ -- Alignable.com, the largest small business referral network in North America, just conducted its latest poll of small business people over the weekend. The majority of the 12,200 small business owners surveyed said that the $350 billion CARES stimulus package alone won't fix the dire state of their businesses.

Key highlights from this poll and related Alignable surveys, the largest polls of small business people available, paint an increasingly nerve-wracking picture for shop owners, travel agents, event planners, musicians and many other small business owners.

• Now 90% of small businesses say they've been negatively impacted by the Coronavirus. That's up from 60% just two weeks ago.
• 37% say they have less than one month's savings to keep them afloat. (Survey sample: 17,500 responses).
• 57% say they need more than the CARES act to sustain them. Either they'll require more money than the government will provide (23%), or will need it earlier than it's likely to arrive (34%). (Survey sample: 12,200 responses).
• 65% say they're not sure where else to turn for extra funding to stay in business. (Survey sample: 8,300 responses).

Beyond tracking the impact of the Coronavirus on small businesses coast to coast, Alignable is:

• Urging people to #ShopLocalOnline, purchasing from local businesses first, including take-out food from restaurants.
• Encouraging community members to pre-purchase services with local salons, establishments that offer massages, gyms and more, through gift certificates or participation in fundraising opportunities, such as Indiegogo's Local Relief Program.
• Providing updated advice from experts regarding the best ways to generate revenue via articles, webinars, and videos showcased in Alignable's Coronavirus Resource and Recovery Center.

Stay tuned for additional results from Alignable's Weekly Pulse Polls, along with more company initiatives to combat the damaging effects of the Coronavirus threat.

Our Survey Methodology

The surveys listed above were conducted via email with a random sample of Alignable's membership database of 4.5 million+ small business owners from March 12, 2020 to March 29, 2020. These surveys have collected responses from 146,000 small business owners with 1-50 employees, making them the largest, most representative polls of small business people anywhere.

Media outlets interested in arranging interviews should contact Chuck Casto via email at [email protected] or text at 508-314-3284. #SmallBusinessStrong

SOURCE Alignable