Concord Ledger

Small businesses in New Hampshire have fared better than those in other states, according to a recent U.S. Census Bureau survey.

The Small Business Pulse Survey showed that just 14.9% of New Hampshire small businesses reported having a “large negative effect” from COVID-19, while the national rate was 25.2%.

The survey, conducted June 28 to July 4, measured changing business conditions due to the pandemic. The survey collected information on small business finances and operations; requests and receipt of financial assistance; and information on vaccines and capital expenditures. The survey also asked businesses about their recovery expectations.

Over a quarter of small businesses in the state indicated they experienced little to no effect on their overall businesses: 26.3% reported little to no effect in the state compared to the national average of 23.8%.

Timothy G. Sink, president of the Greater Concord Chamber of Commerce, said businesses in Concord are following the statewide trend in their recovery.

“Concord’s small businesses are definitely on a positive trajectory and certainly on par with other communities in New Hampshire,” Sink told the Concord Ledger.

“Restaurants, performance venues and retail are fully open and, in some cases, benefiting from pent-up demand. Concord’s vaccination rate is above average in the state, and this has improved consumer confidence,” Sink added.

When asked which policies have helped Concord return to normal levels of operations, Sink said, “I believe the governor’s aggressive roll-out of vaccination with efficiency in distribution helped boost consumer confidence. Involving key industry sectors in planning the reopening of the economy, sector by sector, was key to getting the best information and input from boots on the ground. There was a good flow of communication between the public and private sectors.”

A recent WalletHub study, which was conducted by top U.S. university researchers, found that New Hampshire's small businesses fared better during the COVID-19 pandemic than 44 other states. In addition, WalletHub found the state’s unemployment rebound was stronger than three-quarters of other states.