There are approximately 108,000 businesses in the Delaware Valley, according to the Census Bureau. Indeed, many of these businesses have suffered since the onset of the Coronavirus, especially in April.
Census information is now showing positive indicators that the fortunes of area companies are improving. This includes those with 500 or fewer employees. These small businesses account for 94% of all Philadelphia area firms.
During the week of April 26, 52% of Philadelphia area small businesses reported temporary closures. By July 1, the number dropped to 21%
Also, during that same week, 73% of Philadelphia area small business owners were reporting decreases in revenue versus the prior week. By August 22, that number fell by more than half.
In both June and July of this year, national data shows all retail and food services spending significantly outperformed the prior year by between two and three percent.
As the business climate improves in the Delaware Valley, the fortunes of B2B companies will accelerate as well. These include those businesses that sell office supplies, restaurant supplies, cleaning services, legal services, accounting services, transportation services, banking services, technology, and commercial real estate.