More than three-quarters of small businesses in the country say they have been negatively affected by the coronavirus pandemic, a survey released this week by the NFIB Research Center.
The survey comes as non-essential workers have been ordered to stay home in New York, California and elsewhere in the country in order to contain the spread of the virus.
Only one in five small businesses say they were not affect by the outbreak, but 77 percent of them expected to at some point.
The crisis has brought the economy to a virtual standstill, jobless claims are on the rise and thousands of people have been thrown out of work.
Only 5 percent of businesses reported being positively impacted, but that could change in the coming weeks after a bump in consumer spending in the initial days of the outbreak.
Businesses are reporting supply chain disruptions, slower sales and sick workers.
“Almost all small business owners are taking some sort of action adjusting to their changing economic condition or to protect themselves from potential disruption,” the NFIB found.
For now, it’s not clear what sort of an effect congressional or central banking action will have on the overall economic outlook.
The Federal Reserve has sought to shore up small businesses in the coming days; congressional action has stalled.
“The outbreak will leave few, if any, owners unscathed,” the group found. “We know the economic impact will be immense, and now, the question is how long will it last and how quickly can the small business sector recover once on the other side. Small business owners are anxious to seek clarity to both questions.”