“From bowling alleys to dentists, and from coast to coast, no small business was immune to the challenging circumstances that COVID-19 presented this year,” said Alex Chriss, EVP and GM, Intuit QuickBooks. As of March 31, 2021, 61% of industries saw annual revenue increase compared to before the pandemic, following a largely sustained recovery since April 2020. However, small businesses have proved to be resilient. In fact, small businesses lost $4.6 billion in monthly revenue in April 2020 alone compared with their pre-pandemic revenue, according to the report. Top 7 hardest hit industries have largely recovered (Graphic: Intuit QuickBooks)ĬOVID-19 has had a significant impact on the financial health of American small businesses.
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