We continue to see a trend where tech giants such as Zoom and famous e-commerce businesses like Amazon are getting richer and generating more revenue. However, it has not been the case for all giant companies, and especially for small businesses.
Not all small businesses have had a previous online presence. With the spread of COVID-19 and unemployment levels soaring high, many employees have also lost their jobs. Small business owners are facing financial issues in the wake of this global pandemic, as not all of them have the resources and money to facilitate their business during such difficult times.
Moreover, businesses that are not much old and have only recently launched last year, don't have enough previously generated revenue to keep themselves going. This has become the main reason for small business to approach for funds.
Also See: Startups Under the COVID-19 Influence
This infographic by Lending Tree further illustrates and elaborates all the above facts:
Infographic by: LendingTree
