One of the biggest challenges small businesses face is shoring up their cash reserves. And the February 2021 Alignable: Road to Recovery Report, highlights this very issue. According to the report, 32% of small businesses only have a month or less in cash reserves. Even more distressing, more than 15% don’t have any cash reserves at all. And the numbers are worse for minority and women-owned businesses.
The data for the Cash Crisis portion of the February 2021 report comes from a survey of 3,316 small business owners. Alignable asked these owners to share the amount of cash they currently had on hand and how long they believed it would last.