RAPID: How Do Small Businesses Cope with the Impacts of COVID-19? From A Community Perspective

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This Rapid Response Research (RAPID) project examines the impacts of COVID-19 on small businesses, and how they and their communities react to and cope with associated challenges. Small businesses currently account for 99.9 percent of US firms and employ 47.5 percent of all US workers. Yet, small businesses are more likely to be economically vulnerable, be under-insured, and less likely to have contingency plans. In particular, small businesses in underrepresented communities and peripheral areas face formidable barriers and challenges in preparing for and responding to emergencies and social or natural disasters. This study’s interdisciplinary approach and analytical results will help public policy address disparity and inequality issues, in particular the opportunities and challenges facing small business owners. In addition, it unpacks one facet of community recovery – the importance of businesses’ ability to continue operating and employing people. Therefore, the study will enhance knowledge about how empowering local businesses, increasing diverse employment opportunities, and enhancing private sector enterprises' adaptive capacity contribute to broader community-level resilience.This project examines small business vulnerability and resilience through small businesses’ responses to COVID-19 and their adaptation practices within communities, drawing upon data gathered from business surveys and in-depth interviews. It also explores different approaches to risk mitigation and business preparedness intended to enhance their future resilience. This study goes beyond the traditional lens of physical and financial resources, emphasizing the strength of community-based networks in helping small businesses promptly respond to disasters, and how these networks influence the links between economic and social, and between individual and community resilience. It examines a broad spectrum of businesses under the impacts of social and public health crisis, and particularly highlights the role of social inequalities, unemployment, and low income as a critical source of vulnerability and lack of resilience.This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.