With shutdowns and inability to recover from financial struggles, small businesses across the U.S. have been forced to shut their doors.
WalletHub, a website focusing on personal finance, recently gathered data to calculate which states had “the greatest potential to recover” from the pandemic.
Colorado was ranked 48th, ahead of Montana, Hawaii and Nevada. Pennsylvania was No. 1 on the list.
“WalletHub compared the 50 states and the District of Columbia across 11 key metrics,” according to WalletHub’s report. “Our data set ranges from the share of small businesses operating in high-risk industries to small-business credit conditions and the state’s small-business friendliness.”
Among the recovery ranking, here are some other rankings provided by WalletHub’s data.
- 41st – Share of Small Businesses Operating in High-Risk Industries
- 44th – Share of Small-Business Employees Operating in High-Risk Industries Among Total Small-Business Employees
- 48th – WalletHub’s “States Whose Weekly Unemployment Claims Are Recovering the Quickest” Score
- 37th – Business Vitality
- 32nd – Small-Business Credit Conditions
Map of states with the most pandemic-proof small businesses
Source: Read Full Article