Study: Small businesses with the strongest pandemic comebacks share a common trait

• While sectors such as educational services, information technology, arts, entertainment and recreation registered slow recovery out of the pandemic, finance and insurance industries rebound strongly in 2021, followed by retail trade, real estate and wholesale trade. 

• IT businesses boomed with their average revenue and owners’ credit scores rising above other businesses.

• Businesses in the financial services and insurance sectors exhibited high demand for growth capital and low levels of distress. In fact, financial services companies were found to be the most resilient in recovering from pandemic-induced disruptions.

• The arts and hospitality industries faced a complete shutdown when the economy suddenly came to a grinding halt in 2020.

• The transportation industry witnessed the highest number of recent startups.

Takeaway

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Kanika Sinha

Kanika is an enthusiastic content writer who craves to push the boundaries and explore uncharted territories. With her exceptional writing skills and in-depth knowledge of business-to-business dynamics, she creates compelling narratives that help businesses achieve tangible ROI. When not hunched over the keyboard, you can find her sweating it out in the gym, or indulging in a marathon of adorable movies with her young son.