Our Updated Small Business Closure Forecast is More Optimistic, But Still Grim
Small Business Labs
JULY 7, 2020
In early April, we released a 2020 small business closure forecast. We've updated our forecast and the good news is we're more optimistic about small business survival rates than in our April forecast. The bad news is the numbers are still grim with the base case indicating about 1 million (17%) of U.S. employer small businesses will close in 2020. As the chart below shows (click to enlarge), the base case closure rate (50% probability) has decreased from 21% to 17%
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