Report: Massachusetts ranks high in least affected small businesses, aggressively limiting COVID-19

With 35 percent of small business owners stating that their business cannot survive more than three months in the current economic conditions, WalletHub today released its report on the states with the most affected small businesses due to COVID-19.

To identify the states in which businesses are hit hardest by COVID-19, WalletHub compared the 50 states and the District of Columbia across 12 key metrics including the share of small businesses operating in highly affected industries to small-business credit conditions and the state’s small-business friendliness. The higher the ranking (51 the highest) the better.

Massachusetts is doing well at limiting the affect on small businesses, according to the report, as the state ranked 50th overall with only District of Columbia faring better.

Across several metrics, Massachusetts ranked well coming in 50th for business vitality, 49th in share of consumer expenditures related to high-risk industries, and 49th in average annual federal small-business funding per GDP.

To view the full report, click here.

In another WalletHub report, Massachusetts ranked 8th in the country in most aggressive measures in limiting virus exposure.

The Bay State ranked well across several metrics including 1st in population with healthcare, 4th in risk factors/infrastructure, 6th in economic impact, and 10th in prevention and containment.

To view the full report, click here.