Around New England

Small Businesses Closing in Massive Numbers Amid Coronavirus Emergency In Massachusetts

December 2, 2020

Small businesses are closing down due to a lack of revenue caused by government restrictions amid the coronavirus emergency.

About 37 percent of small businesses in Massachusetts have closed down since the start of this year, as MSN reports. Revenue has declined 44 percent since January for such businesses, on average.

Business failures have hit Boston even harder. The number of small businesses open there is down 44 percent, and total revenue is down 52 percent.

One of the sectors hit hardest by the pandemic is the leisure and hospitality industry. There has been a 55 percent decline in those businesses with a 64 percent drop in revenue.