Small businesses that were heavily impacted by the pandemic last year are bouncing back with strength for the first time in months. | Canva
Small businesses that were heavily impacted by the pandemic last year are bouncing back with strength for the first time in months. | Canva
While COVID-19 negatively impacted thousands of small businesses around the country, many are bouncing back as the pandemic subsides and consumers return to their old ways.
Among them are South Carolina small businesses, which have been able to adapt, evolve and survive through the challenges they faced during the height of pandemic.
According to a recent survey by the U.S. Census Bureau, South Carolina small businesses were able to perform better during the pandemic than small businesses in most other states.
According to data collected from July 12-18 for its Small Business Pulse Survey, the Census Bureau reported that 22% of South Carolina small businesses reported experiencing a “large negative effect” due to the COVID-19 crisis, which is 3% lower than the national average.
The Census Bureau survey measured the changing business conditions due to the pandemic by collecting information on small business operations and finances, requests and receipt of assistance, vaccines, capital expenditures and their expectations for recovery.
Nearly 26.3% of small businesses in the state said they experienced "little or no effect" on their overall business, which is 2.4% higher than the national average.
Additionally, according to a WalletHub study conducted by researchers from top U.S. universities, South Carolina’s economy was affected less severely by the COVID-19 crisis than most other states, ranked 34th overall as an economy being "most exposed to coronavirus."
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