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Covid-19 Is Ravaging Small Businesses

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The Covid-19 has ravaged and continues to ravage small businesses around the world. It would be nice to know the number of businesses which have been affected in Nigeria. The National Bureau of Statistics, Nigeria needs to publish such data.

Nobody knows for sure how many small businesses have failed during the pandemic: Data is scarce but, also, the enterprises often carry no debt and as such don’t exit through bankruptcy court. Of the 80,000 small companies known to have permanently closed from March through July, according to Yelp, the vast majority were local — with fewer than five outlets. Collectively, though, these businesses employ almost half of American workers, the U.S. Small Business Administration says.