Connect with us

Business

60% of Yelp businesses that closed during pandemic will remain closed permanently, report says

Published

on


Clothing stores are reporting high rates of permanent closures, Yelp data shows (Photo by VALERIE MACON / AFP via Getty Images)

valerie macon / Agence France-Presse / Getty Images

Over 160,000 businesses listed in the Yelp YELP online directory,
+ 1.43%
said they have closed since the start of the pandemic from early March to August 31. Some 60% of them are businesses that are shutting down permanently, Yelp reports in its September Local Economic Impact Report.

Restaurants account for the most permanent closures among businesses listed on Yelp, followed by bars and nightlife and clothing venues as well as home decor stores.

Breakfast and brunch restaurants, burger restaurants, sandwich shops, desserts and Mexican restaurants are among the types of restaurants with the highest rate of business closures, according to the report. Foods that perform well for delivery and take-out have been able to keep their closing rates lower than others, including pizzerias, delis, food trucks, bakeries and cafes.

Source: Yelp Local Economic Impact Report

The coronavirus has impacted virtually every sector of the economy, some more than others, leading to widespread store closings and pushing the number of corporate bankruptcy filings to a ten-year high.

Some companies see a light at the end of the pandemic tunnel and are now operating at a loss. The Paycheque Protection Program, which has provided more than $ 500 billion in forgivable loans to businesses in return for not laying off workers, may be part of the reason some companies have managed to stay afloat.

But even with government assistance programs aimed at helping small businesses weather the storm, many are cutting losses and closing for good.

Business closure rates vary widely across the country, but have been highest in metropolitan areas like Los Angeles, New York, and San Francisco, where rents tend to be high and more stringent health protocols have been applied. been set up in relation to suburban and rural areas.

For example, dining out in New York has been banned for the past six months. It was not, however, in other areas of the state. It was only recently that Governor Andrew Cuomo announced that restaurants could reopen for indoor dining on September 31 at 25% capacity.

Related: People who tested positive for COVID-19 were twice as likely to have recently eaten at a restaurant: CDC

On the other hand, many businesses have avoided temporary and permanent closures.

That group includes lawyers, realtors, architects and accountants, all with just two to three in a thousand businesses closed, as of Aug.31, the report said. Health care and auto companies also maintained low shutdown rates.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]

Please disable the ad-blocker on this page to see the content

plus