Small Businesses Collapsed During The Fourth Quarter Of 2023

Posted under: SMB
Date: 2024-01-02
Small Businesses Collapsed During The Fourth Quarter Of 2023

In 2024, anticipation for positive news is scarce, echoing the sentiment captured in Pearl Jam's 'Wishlist,' expressing a desire to be a bearer of good news. However, the outlook for the year is riddled with challenges, including an upcoming election, ongoing economic struggles, unsustainable federal debt, lax border security, and escalating cultural tensions. Many foresee an imminent ""inflection point"" in the nation's trajectory, with some even predicting a potential ""black swan event"" – a paradigm-shifting occurrence akin to the 2008 subprime mortgage crisis or the 2020 Covid-19 pandemic. America's survival relies on resilient communities, including middle-class families, neighborhoods, education, and small businesses. Alignable reports 49% of SMBs earning less than before Covid and 62% reporting lower revenue in Q4 2022. A survey of 5,040 small business owners reveals they are often overlooked in economic interventions.

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