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Small businesses in Santa Monica amongst hardest hit by Covid in the nation
May. 07, 2021 at 6:00 am
Retail: Santa Monica’s business community has been hard hit. Clara Harter
As the dust begins to settle around the economic carnage of Covid-19, it appears that small businesses are amongst the City’s greatest casualties.
A study by accounting software service QuickBooks, identified Santa Monica as one of the US cities where small businesses revenues plummeted the most during the first year of the pandemic.
Their team calculated that the median small business in Santa Monica experienced a $26,000 revenue decrease from April 2020 through March 2021. This ranks Santa Monica as the 5th hardest hit city in the nation, in terms of small businesses, following Manhattan, Brooklyn, San Francisco and Honolulu.