• Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
  • PRODUCTS
  • A&D
  • INSTALLATION
  • MARKETS
  • AWARDS
  • EDUCATION
  • BUYER'S GUIDE
  • MEDIA
  • EMAGAZINE
  • SIGN UP
cart
facebook twitter linkedin youtube
  • NEWS
  • Breaking Flooring News
  • eNewsletters
  • PRODUCTS
  • Carpet & Area Rugs
  • Hardwood
  • Installation Products
  • Installation Tools & Equipment
  • Laminate
  • Resilient
  • Specialty
  • Tile & Stone
  • MARKETS
  • Commercial
  • Residential
  • AWARDS
  • Installation Awards
  • Top Flooring Products
  • EDUCATION
  • Continuing Education
  • Webinars
  • MEDIA
  • FLOOR Podcast
  • Videos
  • TISE 2025 Videos
  • Product Spotlights
  • eBooks
  • EMAGAZINE
  • eMagazine
  • Archive Issues
  • Contact
  • Advertise
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
    • Breaking Flooring News
    • eNewsletters
  • PRODUCTS
    • Carpet & Area Rugs
    • Hardwood
    • Installation Products
    • Installation Tools & Equipment
    • Laminate
    • Resilient
    • Specialty
    • Tile & Stone
  • A&D
  • INSTALLATION
  • MARKETS
    • Commercial
    • Residential
  • AWARDS
    • Installation Awards
    • Top Flooring Products
  • EDUCATION
    • Continuing Education
    • Webinars
  • BUYER'S GUIDE
  • MEDIA
    • FLOOR Podcast
    • Videos
    • TISE 2025 Videos
    • Product Spotlights
    • eBooks
  • EMAGAZINE
    • eMagazine
    • Archive Issues
    • Contact
    • Advertise
  • SIGN UP
Breaking Flooring News

Study Highlights States with the Most Affected Small Businesses Due to COVID-19

map
April 13, 2020

With 35 percent of small business owners saying their business cannot survive more than three months in current conditions, WalletHub released its report on the States with the Most Affected Small Businesses due to Coronavirus, along with accompanying videos.

To identify the states in which businesses are hit hardest by COVID-19, WalletHub compared the 50 states and the District of Columbia across 12 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.
 

States with Most Affected Businesses

1. Hawaii

2. Nevada

3. South Dakota

4. Mississippi

5. South Carolina

6. Louisiana

7. Arizona

8. Nebraska

9. North Carolina

10. North Dakota

 
Key Stats

  • Hawaii has the highest share of small-business employees operating in highly affected industries, 57.66 percent, which is 1.5 times higher than in Pennsylvania, the state with the lowest at 38.59 percent.
  • Wyoming has the lowest share of businesses with e-commerce sales activity, 9.60 percent, which is 1.8 times lower than in the District of Columbia, the highest at 17.20 percent.
  • The District of Columbia has the highest share of loans to small businesses that are more than 30 days past due but less than 91 days past due, 7.40 percent, which is 12.5 times higher than in South Dakota, the state with the lowest at 0.59 percent.
  • Hawaii has the highest total dollar amount of small business loans per small business employee, $5,616, which is 2.3 times higher than in the District of Columbia, the lowest at $2,449.
  • South Carolina has the lowest share of eligible small businesses receiving SBA loans, 4.63 percent, which is 3.5 times lower than in Utah, the state with the highest at 16.27 percent.

 
To view the full report and your state’s rank, please visit:
https://wallethub.com/edu/states-with-the-most-affected-small-businesses-due-to-coronavirus/72977/

Q&A with WalletHub

Why are Hawaii’s businesses most affected by the coronavirus pandemic?
“Some of the major reasons why Hawaii’s small businesses are most affected by the coronavirus pandemic are that over half of them are in highly affected industries, and those businesses comprise 58 percent of all small-business employment,” said Jill Gonzalez, WalletHub analyst. “Another key reason is that even prior to the coronavirus epidemic, new businesses in Hawaii had one of the lowest survival rates in the country.”

How have small businesses in New York been affected, considering that the state has the most COVID-19 cases?
“New York’s small businesses are the 30th most affected by coronavirus,” said Jill Gonzalez, WalletHub analyst. “Over 43 percent of small business employees in New York work in highly affected industries, and only a small fraction of New York merchants conducted business online before the pandemic. Just consider the tens of thousands of restaurants and corner stores that operate in New York City alone. WalletHub also rated New York state as one of the least small-business friendly states in the nation.”

How can business owners best take advantage of the stimulus?
“One big way that business owners can take advantage of the stimulus is to apply for the Paycheck Protection Program, which allows businesses with 500 or fewer employees to take out loans that will help them keep employees on the payroll or even hire more. The best part is that up to 100% of these loans may be forgiven,” said Jill Gonzalez, WalletHub analyst. “However, businesses should be proactive, as loans are offered on a first come, first served basis. In addition, it’s important to make sure that your business qualifies, as there are different stipulations from different banks.”

KEYWORDS: Coronavirus small business

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • resilient flooring

    The 7 Types of Resilient Flooring

    The resilient flooring category is comprised of many...
    Resilient Flooring
    By: Resilient Floorcovering Institute
  • QuickDrain USA’s ShowerLine linear drain

    Tips for Curbless Shower Installation Using a Linear Drain

    Consider these four tips when planning for a curbless...
    Flooring Installation Products
    By: Darryl Jones
  • 2024 New Flooring Product Guide

    2024 New Flooring Products Guide

    We explore this year's introductions in area rugs,...
    Residential Flooring
    By: FLOOR Trends & Installation Editors
You must login or register in order to post a comment.

Report Abusive Comment

Subscribe For Free!
  • eMagazine
  • eNewsletter
  • Online Registration
  • Manage My Preferences
  • Subscription Customer Service

Takeaways from the 2024 AHSG Convention & Member Outlook for 2025

Takeaways from the 2024 AHSG Convention & Member Outlook for 2025

What Shaw Flooring Network Dealers are Banking on for 2025

What Shaw Flooring Network Dealers are Banking on for 2025

Shaw Flooring Network Retailers Report Post-Election Sales Surge

Shaw Flooring Network Retailers Report Post-Election Sales Surge

Retailers Share Top Takeaways from Shaw Flooring Network Convention

Retailers Share Top Takeaways from Shaw Flooring Network Convention

More Videos

Popular Stories

Schluter waterproofing system

Waterproofing Wet Areas: Three Essential Methods to Protect Your Bathroom and Shower Installation

Starnet 2025 Carlsbad CA

Future-Proofing Success: How Starnet Members Are Building Resilient Flooring Businesses

Ian Newton.jpg

Slower Traffic, Higher Sales: NFA Board President Reports Members Thriving with Premium Strategy


Download the Free Moisture Meters Guide

Events

June 9, 2025

NeoCon 2025

A trade show for the commercial interior design industry.

December 1, 2030

Webinar Sponsorship Information

For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com.

View All Submit An Event

Poll

Flooring Groups

Flooring retailers, do you belong to a buying, marketing or franchise group?
View Results Poll Archive

Products

2025 BNI Interiors Square Foot Costbook

2025 BNI Interiors Square Foot Costbook

See More Products

FLOORtalk podcasts - Listen Now

Related Articles

  • wallethub-logo

    States with the Fewest Covid-19 Restrictions

    See More
  • logo

    CCA Global Partners Cancels Winter Convention Due to COVID-19 Concerns

    See More
  • FCIF

    ​FCIF Aids Those Affected by COVID-19

    See More
×

We’re rolling out the red carpet of flooring knowledge!

Stay in the know on the latest flooring retail trends.

JOIN TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletters
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • Instagram
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing

search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
    • Breaking Flooring News
    • eNewsletters
  • PRODUCTS
    • Carpet & Area Rugs
    • Hardwood
    • Installation Products
    • Installation Tools & Equipment
    • Laminate
    • Resilient
    • Specialty
    • Tile & Stone
  • A&D
  • INSTALLATION
  • MARKETS
    • Commercial
    • Residential
  • AWARDS
    • Installation Awards
    • Top Flooring Products
  • EDUCATION
    • Continuing Education
    • Webinars
  • BUYER'S GUIDE
  • MEDIA
    • FLOOR Podcast
    • Videos
    • TISE 2025 Videos
    • Product Spotlights
    • eBooks
  • EMAGAZINE
    • eMagazine
    • Archive Issues
    • Contact
    • Advertise
  • SIGN UP