6 min read
Opinions expressed by Entrepreneur contributors are their own.
Small businesses are the backbone of the U.S. economy. According to the World Economic Forum, small businesses are responsible for employing nearly half of the private sector workforce. However, during these volatile times where social distancing measures have been put in place and mandatory shut-downs have happened, many small businesses have not been able to survive.
In September, Yelp released its latest Economic Impact Report revealing business closures across the U.S. are increasing as a result of Covid. According to Yelp data, permanent closures have reached 97,966, representing 60 percent of closed businesses that won’t be reopening.
“Overall, Yelp’s data shows that