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Missouri is faring better than most other states when it comes to small businesses adversely affected by the coronavirus pandemic, according to a report published today by personal finance website WalletHub.com.
The Show-Me State ranked No. 41 on the States with the Most Affected Small Businesses due to COVID-19 list, meaning Missouri is performing better than 40 other U.S. states. It had an overall score of 42.33 – with 100 being the worst possible tally – based on criteria comprising impact and access to resources; small-business financial conditions; and business environment and workforce support.
Missouri ranked 40th in the impact and access to resources category, which includes the share of small businesses operating in highly affected industries , such as accommodation and food services, retail and the arts, according to the report.
In the category of small-business financial conditions, Missouri ranked No. 15, and it scored a No. 39 ranking in business environment and workforce support.
The best performing state in the report is Massachusetts, at 31.88. Hawaii came in last with an overall score of 69.87, followed by Nevada, at 64.86, and South Dakota, at 62.93
A WalletHub spokesperson said city data was not compiled for the report.
SBJ interviews the interim dean at the William H. Darr College of Agriculture at Missouri State University.