A send-off to the many NYC restaurants, bars, stores, hotels, and businesses, big and small, that closed in 2020 during the COVID-19 Pandemic. The coronavirus outbreak has completely altered the daily lives of people across the United States. Some states have started the process of reopening, but concerns that opening for business too soon has been voiced by health experts and lawmakers who warn of a rebound in coronavirus cases. As of July 10, 132,580 businesses listed on the Yelp YELP, -0.25% review site remain closed due to the coronavirus pandemic, according to its latest Economic Average report. President Biden is expected to sign more than a dozen executive actions Wednesday. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. As state and local officials struggle to contain the spread of the virus, local businesses have had to reshape the way they do business. According to the National Restaurant Association, “3% of restaurants have closed permanently,” said spokesperson Vanessa Sink. WHAT YOU NEED TO KNOW ABOUT CORONAVIRUS IN AMERICA, EXPERTS: 90% OF CORONAVIRUS DEATHS COULD HAVE BEEN AVOIDED, HERE'S WHEN IT'S SAFE FOR YOUR STATE TO REOPEN, HERE ARE THE 6 WAYS THE CORONAVIRUS PANDEMIC COULD END. In 2017, the US Small Business Administration Office of Advocacy reported that the U.S. saw 1 million new businesses open, while 898,000 businesses closed. Small businesses need to stay in touch with customers to keep money flowing in, but they need to be creative, Sundberg said. A new study estimates about 2 percent of small American businesses have closed for good. A new study projects more than 100,000 small businesses in the United States have permanently shut their doors since the coronavirus outbreak was declared a pandemic in March, according to The Washington Post. Thirty-four percent of small business owners said they are either paying reduced rent or are delaying payment. According to the Small Business Administration (SBA), there are 30.2 million small businesses in the U.S. HOW DOES THE CORONAVIRUS PANDEMIC AFFECT SUICIDE RATES? America is changing fast! Text Size. Coronavirus live blog, Dec. 30, 2020: A list of Chicago businesses shuttered due to the pandemic Here’s today’s news on how COVID-19 is impacting Chicago and Illinois. The restaurant industry has been particularly hit hard, with 3 percent of restaurant operators going out of business, according to the National Restaurant Association. Dene Moore . The full report relays findings on small business owners' level of concern, changes they are making in order to continue … ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. Many made their announcements just before May 1 rent was due. 2020 was tough on restaurants struggling to stay open despite the new coronavirus pandemic. For many, it has meant adapting to survive. By Kelly McCarthy. The results shed light on both the financial fragility of many small businesses, and the significant impact COVID-19 had on these businesses in the weeks after the COVID-19–related … Market data provided by Interactive Data. Share. All rights reserved. 60% of businesses surveyed were closed for some part of 2020 due to COVID-19, and these companies experienced a drop in revenue of 87% compared to 2019. Expect more going-out-of-business sales in 2020. Many find themselves relying on community outpouring of support, as the “shop local” rallying cry reverberates across the nation. Three percent of restaurant operators have gone out of business. As of Aug. 31, some 163,735 businesses have indicated on Yelp that they have closed. 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