Connect with us

Hi, what are you looking for?


Small business rent delinquencies in the United States have risen to their highest level in three years

Small business rent delinquencies in the United States have risen to their highest level in three years

(Bloomberg) — The delinquency rate for U.S. small businesses rose to a three-year high this month, reflecting the impact of rising rents and falling income, according to a monthly survey.

The Small Business Leasing Report from Alignable, which provides an online networking platform for landlords, found that 43% of small businesses were unable to pay their full rent due to economic headwinds. This is the highest rent delinquency rate since March 2021.

Independent restaurants have the biggest problem, with 52% not paying their April rent on time. On the other hand, only 20% of small manufacturers are in default.

More than half of small business owners say their rents are higher now than they were six months ago. Of those, 11% are paying at least 20% more than they did last fall.

Alignable found that less than a third of companies founded before March 2020 earn as much or more per month than before the pandemic. Among companies founded after the pandemic, 60% are making less than a year ago.

According to the report, rising costs and falling revenues are affecting companies. About 34% say they only have cash for one month or less.

The survey was conducted among 4,171 small business owners during the first three weeks of April.

©2024 Bloomberg L.P

See also  The Serbian economy always slows down during election years
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...


Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...


A dangerous application appeared in the Apple App Store disguised as a known program. reported the Based on TechCrunch article. Dangerous app in...

Copyright © 2024 Campus Lately.