40% Of Restaurants Still Can’t Pay The Rent

40% Of Restaurants Still Can’t Pay The Rent — Worries Escalate About Eviction Moratorium Being Lifted

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Alignable’s July Rent Report has just been released, based on a poll of 5,911 small business owners that concluded last week. While there are some nice signs that the recovery is having a positive impact on rent payments, there are also many other indications that rent continues to be a major struggle for many small business owners in the U.S.

Restaurants Unable To Pay Full Rent In July

Here’s are some highlights:

40% of restaurants could not pay full rent in July, showing the extended effects of labor shortages and inflation on this industry. Times are even tougher for 64% of nonprofits, 50% of entertainers/artists, 48% of small businesses in the transportation sector, and 43% of event planners. 35% of ALL small businesses in the U.S. could not pay their July rent in full or on time (that’s slightly better than June, which was 37%). 52% of minority-owned small businesses still could not afford their rent in July. And 37% of women-owned businesses are in the same predicament, but only 23% of veteran-owned businesses are struggling with rent. With the Eviction Moratorium coming to an end on July 31st, worries are escalating about the small business owners who still can’t cover monthly rent payments and/or have back rent to pay. Some states are still facing challenges when it comes to small businesses paying rent in full -- 46% of SMBs in Georgia couldn’t pay July rent, and the same goes for 41% of small businesses in New York and Massachusetts. Other states are in better shape right now, including FL (27%), VA (25%) and WA (18%).

To see the full Alignable July Rent Report, click here.

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