S.C. small business recovery outpacing national average

Columbia, SC – April, 8, 2021 – A new survey of more than 35,000 small- and medium-sized business owners worldwide found that closures, declining sales and other effects from the COVID-19 pandemic persist, but that South Carolina is recovering faster than the national average.

Facebook’s Global State of Small Business Report, which surveyed 27 countries and territories in February 2021, found that 43% of S.C. businesses reported lower sales that month, eight points below the U.S. average. Additionally, 44% of women-owned businesses in the state reported lower sales, 10 points below the national average.

As of February 2021, the survey found that 75% of S.C. businesses, 78% of women-owned businesses, and 73% of minority-owned businesses in the state were operational. The survey found that while 19% of operating small businesses had reduced employment as a result of COVID-19, 73% of S.C. business owners were confident in their ability to remain open for at least six months if current conditions continue.

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– Staff Report (2021, April 8). Report: S.C. small business recovery outpacing national average. Columbia Regional Business Report. https://columbiabusinessreport.com/news/business-services/80316/