Pandemic recovery is real and making its way quantifiably across America’s cities and regions.
According to The Main Street Index: How America’s Small To Mid-Sized Businesses Are Rebuilding For A Post-Pandemic Economy, powered by Melio, our quarterly measure of business health on Main Street USA is at its highest since the pandemic first descended.
Analyzing over 2.5 million records and data points on small and medium-size business (SMB) performance since the health emergency was declared in March 2020, this second edition paints a picture of optimism.
Everyone remembers the Q2 2020 freefall, making upbeat new statistics that much sweeter.
Having seen slowing growth in recent quarters, the latest edition of The Main Street Index states, “Finally, in Q1 2022, its growth has returned solidly to pre-pandemic trends. At 134.7, the Main Street Index score is now 19% above its Q2 2020 score — its lowest one.”
Additionally, “Main Street SMBs’ economic performances have been remarkable compared to the overall economy and the industry sectors to which they belong,” per the study.
With nearly two-thirds of Main Street businesses predicting sales growth despite inflation, war and supply chain disorder in 2022, the mood is clearly improving among owners and operators.
Watchful for signs of trouble after unprecedented disruptions, the new data finds that “While 54% of Main Street SMB owners say that inflation puts their sales forecasts at risk, 50% say that economic uncertainty could hurt their performance this year.”
Recovery on America’s thoroughfares varies regionally, with data finding the Mountain states leading, while by comparison, the Northeast got back on its feet fastest in 2020 and now lags.
“Pandemic employment patterns and regional business regulatory changes have impacted Main Street SMBs to varying degrees across the U.S.,” per the new edition of The Main Street Index.
“At 9.4%, the Mountain region shows the largest year-over-year increase in its Main Street Index score, and now stands at 11% above its pre-pandemic level.”
Get the new edition: The Main Street Index: How America’s Small To Mid-Sized Businesses Are Rebuilding For A Post-Pandemic Economy
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