In 2019, there were about 31 million small businesses in America, making up a little under half of the workforce, per the U.S. Small Business Administration. But because of the pandemic, around one-third of those shops may close according to several studies from Facebook, the Partnership for New York City, and the Opportunity Insights Economic Tracker at Harvard University, among others.
The bad news is especially true for places that provided in-person services, like barbershops and salons.
Cheddar visited Astor Place Hairstylists in Manhattan. The famous institution, which has been in operation for more than three decades, almost had to shut its doors because of declining business during COVID. But luckily several New Yorkers stepped in to save it.