Life in Quarantine

Facebook, OECD, World Bank Examine Covid-19’s Impact on Micro-Businesses

Those owned and operated by one person are closing at a higher rate than their larger peers

SeriousFlorist — Over the five surveys to date, on average, 49% of micro-businesses were female-ledDeagreez/iStock

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The pandemic continues to impact businesses of all sizes, but those owned and operated by a single person are being hit particularly hard, according to the fifth edition of the Global State of Small Business Report, which was released by Facebook Thursday.

The social network is involved in an ongoing research collaboration with the Organisation for Economic Co-operation and Development and the World Bank, and over 25,000 small business leaders across 50 countries were surveyed in September for this installment.

Findings