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Economic Bulletin May 2021

Economic Bulletin May 2021

U.S. Small Business Administration Office of Advocacy

First published May 2021

The COVID-19 pandemic was an economic shock to small firms and the effects were not easily predictable. An unprecedented number of establishments closed at least temporarily, jobs are rebounding but have not yet reached pre-pandemic levels, proprietor’s income rebounded quicky, and business bankruptcies seem unaffected so far. Financial conditions have improved and remain accommodative to economic growth. Meanwhile, financing remains reasonably tight for small businesses with subpar credit scores.

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