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Alignable: 64% of NJ small businesses experience revenue loss due to omicron

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Small- and medium-size businesses in New Jersey report that they’ve experienced more recovery loss from the omicron variant than business owners in any other state, according to a survey by Alignable released Jan. 27.

Omicron has already left its mark on 53% of small-business owners in the U.S. who say the variant has hurt their January revenues. In New Jersey, the number is at 64% — higher than New York, where 60% of SMBs report recovery reversal; Michigan, with 58% of SMBs reporting recovery reversal; and California, with 57% reporting recovery reversal due to the variant.

Boston-based small-business social network Alignable released the numbers from its January Omicron Poll of 6,218 small business owners conducted from Jan. 15-Jan. 25 nationwide.

In December, 43% of small businesses in U.S. and Canada reported earning as much or more monthly revenue than they generated prior to COVID. That 43% recovery rate represented a jump of 16% over November’s figure of 27%.

The rate of businesses reporting full recovery in January, however, slumped down to 31%. Alongside omicron, respondents attribute inflation, ongoing labor shortages and related issues.

Alignable reports that increasing fears of the variant are up by 23% compared to its December poll, when 44% of all small business owners said they worried omicron would negatively impact their business recovery, while 44% predicted it would have no effect and they “weren’t worried at all.”

January numbers revealed that 67% said they feared it would hurt their recovery, and only 27% said they weren’t worried at all.

Omicron’s effects were felt more in some industries than others. Nine out of 10 entertainment businesses and 8 out of 10 restaurants have reported income loss during omicron, and business was also affected with staffers having to call out sick due to illness.

Beyond entertainment and restaurants, other industries reporting omicron-related revenue setbacks include event planners (71%), gym owners (68%), travel professionals (67%), massage therapists (66%), manufacturers (65%), and beauty salon owners (63%), nonprofits (61%), transportation service providers (59%), and retailers (52%).

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