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COVID-19 Reopening: Survey Finds Pessimism Mounting Among San Francisco Bay Area Small Business Owners

SAN FRANCISCO (CBS SF) -- As the days of the pandemic mount and reopenings are paused by surges of new COVID-19 cases, a survey revealed Monday that a majority of San Francisco Bay Area small business owners believe recovery from the financial impact of the virus outbreak will not begin until the end of the year.

More stunning was that the survey by online lender -- The Lending Tree -- found that 14.6% of small business owners don't think they will ever recover from the pandemic.

The company analyzed results from the Census Bureau's Small Business Pulse Survey and calculated the percentage of small business owners in the 50 largest metro areas who had reported saying that they thought their business wouldn't return to normal compared with a year ago.

The most recent survey was conducted June 20 to June 27, and information was used dating back to the initial April 26-to-May 2 version to provide weekly comparisons.

When it came to pessimism, the San Jose metro area placed third in the nation behind Austin and San Antonio for the gloomiest outlook.

Of those located in the Silicon Valley, the survey found, that 14.8% of small business owners were saying business won't return to levels seen last year and 68 percent felt business would not return to normal over the next four months.

On top of that, San Jose had the lowest rate of small business owners — 4.6% — who said there had been no or little effect on their usual level of business.

Small business owners in San Francisco were equally concerned about their future.

San Francisco ranked fifth in the Lending Tree survey with 67.5 percent saying recovery will not happen until the end of the year. Another 14.6 percent believe they never will recover.

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