The pandemic impacted businesses of all sizes across the country. But companies in some cities didn’t bear the brunt of the business shutdown orders as much as others.
LendingTree recently analyzed data to see what American cities saw the least negative impact as a result of the pandemic response.
The data showed how many businesses in cities saw little or no negative effect from the COVID-19 pandemic. And in some places, the pandemic response actually had a positive impact on businesses in these cities.
Louisville Businesses Feel Less Negative Impacts from COVID-19 Closures
LendingTree analysis shows Louisville, Kentucky. According to LendingTree data, 14.7% of businesses in that city say they felt little or no positive effect from the COVID-19 pandemic. Another 17.9% in Louisville say the pandemic caused no negative effect on their business. In fact, 2.9% say the pandemic had a positive impact on their business. That’s the highest percentage of businesses in any city in the U.S.
These are the top 15 cities in the US that felt little or no negative impact due to the coronavirus pandemic response:
- Louisville, Ky. (17.9%)
- Virginia Beach, Va. (16.6)
- Phoenix (16.1)
- St. Louis (15.6)
- Birmingham, Ala. (15.5)
- Indianapolis (15.3)
- Jacksonville, Fla. (14.9)
- Tampa, Fla. (14.8)
- San Antonio (14.6)
- New Orleans (14.6)
- Milwaukee (14.4)
- Salt Lake City (14.2)
- Raleigh, N.C. (13.9)
- Washington (13.8)
- Kansas City, Mo. (13.7)
According to LendingTree, Louisville had 3,613 cases of COVID19 as of June 24. Many businesses like race tracks, fitness centers, restaurants and bars have been permitted to reopen in that city.
In second place was Virginia Beach, VA. They had 16.6% of business owners reporting no negative effects.
The number of cases in Virginia Beach was much lower. They reported 1,038 cases. As of June 24, beaches have reopened and $1.3 million has been earmarked for businesses still struggling.
A previous LendingTree survey ranked Virginia as the second place state for essential businesses (80.6%). The first phase of reopening started May 15 with restrictions varying by city and county.
That survey also listed Maryland as the top state with 81.5% of essential businesses.
The original numbers for the research on cities came from the Census Bureau Small Business Pulse Survey. That survey found 37% of national respondents reporting a largely negative effect on their businesses. At the same time, 12.8% said the pandemic had little or no effect.
Phoenix, Arizona takes the third position in the LendingTree analysis. In that city, 16.1% of small business owners report no negative effects from the pandemic. The number of coronavirus cases there is higher. Almost 35,000 cases were reported and 654 deaths. Most of the nonessential businesses in the area have been reopening since May according to Lending Tree.
Other cities mentioned in the LendingTree analysis include Detroit. That city reported 5.6% of businesses having no negative coronavirus effects. New York reported 7.3% with no negative consequences. San Francisco scored 8.9 percent.
There were other interesting stats. For example, Philadelphia (at 9%) scored lower than cities like Boston at 10.5 percent. Washington was 14th on the list with 13.8% of respondents reporting no negative effects from COVID 19.
The LendingTree analysis looked at the data from 50 metropolitan areas from the Census Bureau Small Business Pulse Survey. The team looked at averages from five weeks of the data. It had been been collected between April 26 and May 30 of this year.
LendingTree is an online loan marketplace. It looks after a variety of needs like small business loans, personal loans and auto loans. They also offer shopping for other programs.