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Barbara Weltman

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Businesses Struggling to Pay the Rent

August 15, 2021 / By Barbara Weltman

According to Alignable’s July Rent Poll, 52% of minority-owned SMBs can’t pay their rent. This compares with 33% of non-minority-owned SMBs. The eviction moratorium in the U.S. expired on July 31, 2021. Struggling SMBs should talk to their landlords and try to work something out if they plan to stay in business. With the high vacancy rates in commercial space (e.g., 19% in NYC), temporary relief or a rent reduction may be possible.  #IdeaoftheDay

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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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