How Many Businesses have permanently closed?
According to Market Watch
As of June 15, 140,000 businesses listed on the Yelp review site remained closed due to the coronavirus pandemic. According to Yelp's latest Local Economic Impact Report, of all the business closures since March 1, 41% of them have shuttered permanently.
Here is a breakdown:
This is only a glimpse as to what might be happening.
Just another piece of evidence that Wall Street might be getting this wrong. Recovery might not be as smooth and easy as Wall Street thinks. That doesn't mean you have to get it wrong as well. Have your plan B in place in the event that Wall Street is wrong. There is a high probability that this market will struggle if the best-case scenario does not pan out.
If you don't have a plan B in place, email me at email@example.com for some resources.
Bob Brooks is the daily host of the Prudent Money Radio Show. He writes about stewardship and financial topics Monday through Thursday each week. For questions or advice, feel free to contact Bob at 972-386-0384 or firstname.lastname@example.org.