ARIZONA NEWS

Valley among top places where small business outlook is positive for 2021

Dec 19, 2020, 12:00 PM | Updated: 1:24 pm

(Facebook Photo/Visit Phoenix)...

(Facebook Photo/Visit Phoenix)

(Facebook Photo/Visit Phoenix)

PHOENIX – The start of a new year appears generally bright for small businesses in the Valley after a tough 2020 amid the coronavirus pandemic.

Analyzing data from The Census Bureau’s Small Business Pulse Survey, Smart Asset determined the Phoenix-Mesa-Chandler metro area has the 14th-most positive small business sentiment in the country heading into 2021.

The website compared 50 of the largest U.S. metro areas with data collected between Nov. 30 and Dec. 6 using four metrics: percentage of small businesses operating at normal levels, percentage that do not expect a return to normal levels within six months or ever, percentage looking to hire new employees and percentage with three or more months of cash on hand.

The report showed that 29.3% of Valley small businesses are looking to hire new employees, the fifth-highest percentage among the top 20 cities listed, and 31.2% are operating at normal levels, the eighth-best percentage.

A negative mark, however, is only 21% of Valley small businesses have three or more months of cash on hand, which the study says is the minimum safety net recommended for a business.

The number of small businesses with a safety net isn’t far off from the national average of 25.4%.

The study found 47.4% of Valley small businesses do not expect to recover in six months.

Small businesses on the east coast have the best outlook for 2021, Smart Asset determined, with eight of the top ten metro areas located east of the Mississippi River.

Raleigh-Cary, N.C., was considered the brightest spot for small businesses heading into 2021.

It was found in the survey that less than 2% of small businesses closed during the coronavirus pandemic, but over half nationally don’t expect to return to normal operation for at least six months, if ever.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Brunson Lee elementary school district sign...

KTAR.com

Manhunt yields no results after shooting suspect seen going into Phoenix elementary school

A manhunt came up empty after a shooting suspect was seen running into an elementary school before students arrived Thursday morning.

1 hour ago

Chandler innovation fair 2024 East Valley...

Serena O'Sullivan

Chandler Innovation Fair to celebrate innovation with hundreds of hands-on science exhibits

The yearly Chandler Innovation Fair, which celebrates innovators and scientists of all ages in the East Valley, will return on Saturday.

4 hours ago

One Handsome Bastard photo...

Serena O'Sullivan

Old Town Scottsdale’s 1st microdistillery opens in former Blue Clover Distillery space

The space previously occupied by Blue Clover Distillery is now known as One Handsome Bastard. The name honors the late Brad Ritchie.

4 hours ago

gavel photo threatening federal...

Serena O'Sullivan

Arizona man sentenced to over 7 years for trying to traffic methamphetamine

A federal judge in Arizona sentenced a Tucson man to over seven years in prison for drug trafficking, officials announced on Wednesday.

4 hours ago

The Arizona National Guard wants help in creating its new design for its specialty license plate. (...

KTAR.com

Arizona National Guard holding contest to design license plate

The Arizona National Guard has opened a contest to let the public design its specialty license plate.

4 hours ago

Follow @TaDunham...

Sponsored Content by Midwestern University

Midwestern University Clinics: transforming health care in the valley

Midwestern University, long a fixture of comprehensive health care education in the West Valley, is also a recognized leader in community health care.

Sponsored Articles

(KTAR News Graphic)...

Boys & Girls Clubs

KTAR launches online holiday auction benefitting Boys & Girls Clubs of the Valley

KTAR is teaming up with The Boys & Girls Clubs of the Valley for a holiday auction benefitting thousands of Valley kids.

...

Day & Night Air Conditioning, Heating and Plumbing

Valley residents should be mindful of plumbing ahead of holidays

With Halloween in the rear-view and more holidays coming up, Day & Night recommends that Valley residents prepare accordingly.

...

Sanderson Ford

The best ways to honor our heroes on Veterans Day and give back to the community

Veterans Day is fast approaching and there's no better way to support our veterans than to donate to the Military Assistance Mission.

Valley among top places where small business outlook is positive for 2021