A survey found that 47% of small business owners nationwide may still need financial support for the next year | Unsplash
A survey found that 47% of small business owners nationwide may still need financial support for the next year | Unsplash
A survey found that 47% of small business owners nationwide may still need financial support for the next year, Montana NFIB reported.
“I believe the survey result showing 47% anticipating a need for additional financial support over the next 12 months should preclude any discussion of raising taxes on small-business owners," Riley Johnson, the Montana state director for NFIB, said in the news release. "Full economic recovery for the nation and for Montana is way off, and it will not get any traction if we increase taxes and regulations."
Montana NFIB conducted the survey. They also found that 59% of Paycheck Protection Program (PPP) loan borrowers are using the extended 24-week forgiveness period. The survey also found that 97% of applications received their loans and 35% had applied for an Economic Injury Disaster Loan and most of those people were still waiting for it to be processed.
“Small businesses are entering the fourth month of economic crisis and are still experiencing a heavy amount of uncertainty and complications,” Holly Wade, NFIB Director of Research and Policy Analysis, said in the news release. “Now that owners have more flexibility in using their PPP loan, they can focus on adjusting business operation accordingly as states loosen business restrictions.”
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