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Nearly one-third of NY, NJ small businesses reportedly closed in 2020

PHOTO: Ward and Smith

By Jorge Fitz-Gibbon | 29 November 2020

NEW YORK POST — It has been a bad year for ma and pa.

Nearly one-third of small businesses in New York and New Jersey remain closed since January amid the coronavirus pandemic, according to a watchdog.

In the Empire State, 27.8 percent of small businesses have not reopened their doors, while Jersey has lost 31.2 percent as of Nov. 16, according to TrackTheRecovery.org, a Harvard-run database that keeps tabs on the economic impact of the virus.

The figures are in line with estimates from the New Jersey Business & Industry Association, which says 28 percent of the Garden State’s small businesses had shut up shop by the end of October, according to the Star Ledger newspaper.

And with the region now seeing a resurgence of the virus, business leaders are worried the number could go even higher.

“It’s really bad,” Eileen Kean, New Jersey state director of the National Federation of Independent Businesses told the Star-Ledger. “And without federal dollars coming into New Jersey, the Main Street stores and other establishments are not gonna make it through the winter.” […]

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