New NFIB Survey Shows Indiana Small Business Overwhemingly Want to Reopen
Indiana small business owners overwhemingly agree – now is the time to reopen the state’s economy. According to a recent survey of NFIB Indiana small business owners, 81% say the reopening should happen in the next 30 days, with 59% saying it should happen immediately. However, small business owners think that the reopening process should happen responsibly: the survey found that 58% of Indiana small business owners felt that the stay-at-home orders should be lifted gradually, while 42% found that it should happen all at once.
“The numbers show what small business owners have been saying for weeks: they cannot survive for much longer unless we get Indiana’s economy rolling again. Our small business owners here in Indiana have been devastated by the coronoavirus. The majority have been hit with a double whammy. First the shutdown and then the failure of the federal government to come through with promised relief. Those who haven’t seen any disaster relief money from the federal government are in danger of shutting down. We need to begin to reopen Indiana’s economy – or many small business owners will not survive,” said NFIB State Director in Indiana, Barbara Quandt.
The immediate need for financial support for small businesses cannot be overstated. In an earlier survey (March 30), about half of small business owners said they would not be able to continue business operations under current economic conditions for more than 2 months. Small business owners are depleting their savings and other resources to hold on to valuable employees until they receive their loan(s). The longer it takes until loans are deposited, small business owners will increasingly adjust business operations and layoff additional employees in order to survive.