Could one quarter of all Illinois businesses be wiped out due to the COVID-19 pandemic?

The Illinois Chamber of Commerce is paying close attention to the numbers as they relate to the COVID-19 crisis. And the numbers point to dismal results, if things don’t improve real soon. A state official says 25% of Illinois businesses likely won’t survive.

Clark Kaericher, V-P of Government Affairs for the State Chamber of Commerce, told a virtual meeting audience several business experts have the same gloomy belief that at least 25% of businesses won’t make it.
Kaericher said cash flow isn’t there for many of these local businesses. Operating at just 25 – 30 percent capacity isn’t enough to stay above water. It’s most difficult for the small business. Kaericher adds,’this public health crisis has been a double-punch, it’s an economic catastrophe.’

Kaericher was a participant (Wednesday) in a virtual meeting hosted by State Senator Jason Barickman.

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