Illinois ranks 7th lowest in study of small businesses affected by coronavirus

Illinois came in seventh lowest in a new study by the WalletHub website that shows where small businesses have struggled most due to the coronavirus pandemic, based on three key dimensions.

The state earned a total score of 39.54 in the study by the personal finances website. In the “Impact and Access to Resources” category, the state received a rank of 46th; for “Small-Business Financial Conditions,” 16th; and for “Business Environment and Workforce Support Conditions,” 40th.

All 50 states and the District of Columbia were ranked in the WalletHub analysis.

About 87 percent of small business owners report that their firms have been hurt by the Covid-19 outbreak, according to a recent WalletHub survey, with 35 percent saying that their companies can’t survive another three more months under current conditions.

Within the three major areas studied, the states’ businesses were ranked on 12 metrics, including whether they were operating in high-risk sectors, the state of credit conditions and states’ overall friendliness to small business, according to the WalletHub report.

States Whose Small Businesses Are Most Affected by Covid-19

Overall RankStateTotal Score”Impact & Access to Resources” Rank”Small-Business Financial Conditions” Rank”Business Environment & Workforce Support Conditions” Rank1Hawaii69.8722222Nevada64.8631093South Dakota62.93521144Mississippi60.72109105South Carolina59.6375306Louisiana57.6834137Arizona56.96132878Nebraska56.77152589North Carolina56.6721131110North Dakota56.5218231211West Virginia56.156113812Georgia55.66288613Kentucky55.2816261814Tennessee54.862542015Montana54.271424916Florida54.172222717Idaho53.628144718Wyoming53.454275019Maine53.2019182520New Mexico51.669492121New Hampshire51.391251122Arkansas49.542763323Kansas49.4936291524Washington48.8020243725Vermont48.5217482226Virginia48.453539527Alabama48.0824353228Michigan47.934437429Delaware47.8931302630New York47.4629203431Iowa47.2633312432Alaska46.832335133Indiana46.5041331634Oklahoma46.4626174435Utah46.4114443536California45.9543321937Rhode Island45.7632432338Colorado45.2111454339Texas44.2437124240Maryland43.2738461741Missouri42.3340153942Oregon42.3230384643New Jersey41.935072944Minnesota41.2339402845Illinois39.5446164046Connecticut36.6247364147Wisconsin36.2542414548Ohio36.1348473149Pennsylvania34.6349344850Massachusetts31.8845503651District of Columbia29.575119.0013

Source: WalletHub.com

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