Newly released small business survey data shows that an alarming number of businesses are unable to pay rent.
Alignable released its monthly small business report for October which showed 37 percent of American small business owners were unable to pay rent on time or in full last month. That is up from 30 percent who said the same the month before.
The study found that rent delinquency varies by industry.
“Small businesses in the education sector are leading the pack, yet again, but jumping to 57 percent (up 13 percent from 44 percent last month),” Alignable said. “Not far behind, we have two more records that were broken in this study—for the automotive sector and restaurants. Both reached new rent delinquency highs, tying for second place this month at 49 percent. This is the highest rent delinquency rate either sector has experienced in 2022.”…