Small businesses a bit more hopeful on survival

America’s small businesses are slightly more bullish about their own survival than five months ago, with a majority now saying they expect to be operating beyond six months even if current conditions persist, according to a new survey.

Sixty percent of business owners said theywill be able to remain open for more than a half-year, up from 46 percent in April, according to the poll, conducted by Morning Consult on behalf of Verizon Communications. The survey firm questioned owners and decision makers at 600 small and midsize firms from Aug. 26 to Sept. 4.

As prospects of a new stimulus deal remain slim after negotiations stalled in Congress, small-business advocates have warned that the nation is on the precipice of widespread business failures and bankruptcies amid the COVID-19 pandemic. While it’s premature to say whether that will happen, a significant minority, 28 percent, indicated they may not make it through the next fewmonths without additional government relief.

Among other findings in the survey, hospitality and accommodations businesses are the least confident in their longtime survival prospects, with 47 percent expecting to operate beyond six months if conditions don’t improve. The most optimistic respondents were in the property and real-estate industry, with 78 percent expecting to survive even under present conditions.

While the survey didn’t ask business owners about their political preferences, 58 percent indicated the presidential election would have a significant impact on the U.S. economy. However, only 22 percent said the election would significantly affect their own job security and only 28 percent said it would significantly affect their business’ financial security.

Among the newround of stimulus proposals that are in limbo in Congress is an extension of the Paycheck Protection Program that ended last month. The program offered low-rate government loans that are forgiven under certain conditions.

A second survey released Monday by the community revitalization group Main Street America suggests that most small businesses are loath to take on additional debt to fund operations during the pandemic. More than 60 percent expect to tap existing sources of revenue rather than to seek a new bank loan, line of credit or government loan, according to the survey of more than 2,000small-business owners.