Alignable, an online network for small businesses, issued their October Rent Report. This is based on a poll of 3,181 small business owners conducted by Alignable from 10/8/21 to 10/28/21.
According to the report, more than 40% of small businesses in key industries were not able to pay their October rent in full and on time. The top category for rent delinquency this month is beauty.
Of the small businesses surveyed, 32% were still concerned about the Delta variant of COVID-19. Other factors of concern included increasing inflation, supply chain issues, and the labor shortage.
Nearly half (47%) of beauty salons and barbers couldn't afford their rent, with significant percentages of small business owners in the following industries demonstrating similar challenges:
- 42% in construction (for the second month in a row)
- 41% of event planners & staffers, including photographers & videographers (up 6%)
- 41% of restaurants (down 10%)
- 40% of creatives, including designers, entertainers & artists (up 9%)
- 39% in the travel/lodging industry (up 17%)
- 36% in transportation (up 6%)
- 33% of retailers (down 7%)
Read the full report here.
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Originally posted on Modern Salon