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Nearly a third of small businesses in New Jersey have closed since pandemic's start

The state's figure is slightly above the national average.

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businesses
Closed businesses in Niagara Falls, N.Y., April 2020
(Photo by Stringer/Anadolu Agency via Getty Images)
Updated: November 30, 2020 - 3:04pm

Nearly one-third of small businesses in New Jersey have shuttered permanently since the onset of the global coronavirus pandemic, according to a recent news report. 

Without additional federal dollars coming into the state, New Jersey business leaders are concerned that the numbers could continue to climb, despite the forthcoming holiday shopping period, reports the New Jersey Star-Ledger.

The state's increasing number of COVID-19 cases, mirroring the trends of most states across the country, could lead to an even greater number of business shutdowns. 

"The stress levels are exceptionally high," said New Jersey Democrat Gov. Phil Murphy, who was targeted last week by constituents for eating outdoors at a restaurant with his family. "You've lost a job, you've lost a business, you've lost a loved one. I can't blame folks for being stressful." 

The Harvard-based data tracking project TrackTheRecovery.org recently put out numbers indicating that 31% of businesses in New Jersey have closed, a figure slightly above the national average. 

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