More than 63% reported that it is extremely or extremely doubtless that they would be open—which we later use as a measure of the likelihood of being open. A rising literature has found entrepreneurs to be overoptimistic about their prospects (see, for example, ref. thirteen).
We compute this measure by taking the midpoint of categorical responses for the amount of money readily available and dividing by the midpoint of the explicit response for typical monthly expenses prior to the crisis. Table four reveals the problems that companies reported dealing with, break up by their operational standing on the time of the survey. We requested homeowners to rate, on a 1 to one hundred scale, the issues they have been experiencing with worker illness, supply chains, and customer demand. The scale had numerical values and also a text label that went from “Not a concern” at one end to “Extremely disruptive” at the other finish. We differentiate between firms which are open, temporarily closed, and permanently closed, and we show the … Read More