UNDATED – With states gradually reopening but around 100,000 businesses having closed permanently during 2020, WalletHub today released its report on the States With the Most Pandemic-Proof Small Businesses, along with accompanying videos.
To identify the states where businesses have the greatest potential to recover, WalletHub compared the 50 states and the District of Columbia across 11 key metrics. Our data set ranges from the share of small businesses operating in highly affected industries to small-business credit conditions and the state’s small-business friendliness. Below, you can see highlights from WalletHub’s report and a Q&A with WalletHub analysts.
| States with Most Pandemic-Proof Businesses | States with Least Pandemic-Proof Businesses |
| 1. Pennsylvania | 42. New Mexico |
| 2. Arkansas | 43. Alaska |
| 3. Missouri | 44. Washington |
| 4. North Dakota | 45. South Carolina |
| 5. Minnesota | 46. Rhode Island |
| 6. Illinois | 47. Idaho |
| 7. Michigan | 48. Colorado |
| 8. Ohio | 49. Montana |
| 9. Wisconsin | 50. Hawaii |
| 10. Kansas | 51. Nevada |
Key Stats
- Pennsylvania has the lowest share of small-business employees operating in highly affected industries, 41.08 percent, which is 1.4 times lower than in Hawaii, the state with the highest at 57.88 percent.
- South Dakota has the lowest share of loans to small businesses that are more than 30 days past due but fewer than 91 days past due, 0.65 percent, which is 6.2 times lower than in the District of Columbia, the highest at 4.05 percent.
- South Dakota has the highest total dollar amount of small business loans per small business employee, $5,003, which is 2.1 times higher than in the District of Columbia, the lowest at $2,381.
- Utah has the highest share of eligible small businesses receiving SBA loans, 16.27 percent, which is 3.5 times higher than in South Carolina, the state with the lowest at 4.63 percent.
To view the full report and your state’s rank, please visit:
https://wallethub.com/edu/
