With states gradually reopening but around 100,000 businesses having closed permanently during 2020, WalletHub today released its report on the States With the Most Pandemic-Proof Small Businesses, along with accompanying videos.
To identify the states where businesses have the greatest potential to recover, WalletHub compared the 50 states and the District of Columbia across 11 key metrics. Our data set ranges from the share of small businesses operating in highly affected industries to small-business credit conditions and the state’s small-business friendliness. Below, you can see highlights from WalletHub’s report and a Q&A with WalletHub analysts.
Pandemic-Proof Small Businesses in Texas (1=Best, 25=Avg.):
- 8th – Share of Small Businesses Operating in High-Risk Industries
- 24th – Share of Small-Business Employees Operating in High-Risk Industries Among Total Small-Business Employees
- 44th – WalletHub’s "States Whose Weekly Unemployment Claims Are Recovering the Quickest" Score
- 10th – Business Vitality
- 32nd – Average Annual Federal Small-Business Funding per GDP
- 46th – Small-Business Credit Conditions
- 5th – Total Amount of Small-Business Loans per Small-Business Employee
