Deeply Troubling: 47% of Small Biz Owners Might Fail by Fall

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Alignable chart of small biz owners

Alignable’s Small Business Revenue Report comes out today and the news is troubling. The report is based on a poll of 4,392 randomly selected small business owners conducted from 6/10/22 to 7/13/22, along with historic data from 680,000 surveyed since March 2020.  Here are key highlights:

  • 47% of small business owners (SMBs) say they’re businesses are at risk of closing by Fall of ’22, unless economic conditions improve significantly
  • That’s up 12 percentage points from last summer, when only 35% were concerned about economic issues forcing them to shut down
  • And SMBs in key industries face even bigger problems: 59% of retailers are at risk, along with 52% in construction51% in the automotive sector, and 50% of restaurant owners.
  • Supporting these unfortunate trends, the total percentage of SMBs reporting that they’ve fully recovered has dropped 7 percentage points since last summer. In the Summer of ’21, 33% were fully recovered. But now, that number has declined to a new low: just 26%.
  • Looking at different states and provinces, small businesses in CO (54%), MI (52%), OH (51%), PA (51%) , and Texas (51%) are struggling the most.
  • In Canada, small businesses in British Columbia (47%) and Ontario (46%) top the list.

To see more details, review Alignable’s Small Business Revenue Report here.

See the poll here.


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