Illinois came in seventh lowest in a new study by the WalletHub website that shows where small businesses have struggled most due to the coronavirus pandemic, based on three key dimensions.
The state earned a total score of 39.54 in the study by the personal finances website. In the “Impact and Access to Resources” category, the state received a rank of 46th; for “Small-Business Financial Conditions,” 16th; and for “Business Environment and Workforce Support Conditions,” 40th.
All 50 states and the District of Columbia were ranked in the WalletHub analysis.
About 87 percent of small business owners report that their firms have been hurt by the Covid-19 outbreak, according to a recent WalletHub survey, with 35 percent saying that their companies can’t survive another three more months under current conditions.
Within the three major areas studied, the states’ businesses were ranked on 12 metrics, including whether they were operating in high-risk sectors, the state of credit conditions and states’ overall friendliness to small business, according to the WalletHub report.
