Small businesses that took a big hit to their bottom lines from a string of recent snowstorms are hoping for government help to recover as they struggle to make ends meet.
A survey released yesterday revealed an average 24 percent sales slump during the Jan. 26 to Feb. 22 snowstorms for 1,600-plus Massachusetts small businesses that responded, while payroll costs declined only 7 percent. The impact was more severe for retailers and restaurants: Their sales plummeted 49 percent, while payroll expenses were down just 14 percent.
"Some ... are going to have trouble paying the next rent, making payroll and purchasing their spring inventory," said Jon Hurst, president of the Retailers Association of Massachusetts, which spearheaded the survey by statewide business associations and local chambers of commerce.
The data will arm the Baker administration as it seeks federal help, including low-interest loans, Hurst said.
Seventy-seven percent of the respondent companies have annual sales of $5 million or less; 61 percent have 20 or fewer employees.
"We're hoping that they can all find a way — whether through governmental assistance or their banks — to get through the rough patch, and hope consumers understand it's been a rough time and come back in and make an early spring of it," Hurst said.
Businesses suggested government could help them with sales and payroll tax holidays, delayed tax filings, low-interest loans and Main Streets promotional campaigns.
Some help already is available. The Massachusetts Growth Capital Corp. last week announced a $1 million loan fund for small businesses.
"It certainly was a step in the right direction, but ... given the sheer level of the losses, there is a potential for more Small Business Administration-type assistance," Hurst said.
American Express and ARF Financial are making short-term loans with attractive interest rates available to Bay State restaurants, according to Massachusetts Restaurant Association CEO Bob Luz.
Boston restaurants launched a #DigOutDineOut promotional campaign through April and hope that Dine Out Boston (formerly Restaurant Week), which continues today and Sunday through next Friday, will boost sales.
"Restaurants are on very, very thin margins to begin with, so to be able to survive through a four-week period like that is going to be very difficult for some," Luz said. "We fully expect that there's going to be some restaurants that don't make it through."
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