New survey shows impact of COVID-19 closures on U.S. small business owners and employees

Report from CardFlight highlights challenges ahead for local businesses
August 5, 2020

CardFlight, the leading SaaS payment technology company, today released the results of a new survey documenting the impact of COVID-19 on U.S. small businesses. Responses from nearly 250 business owners and employees nationwide paint a sobering picture of the challenges these businesses have faced since the virus first emerged, and what may lie in store for them ahead.

Derek Webster, CardFlight Founder and CEO, says:

Small business owners are known for their resilience and ability to adapt, but the environment they’ve been forced into in just a few short months is nothing short of heartbreaking. While the road ahead remains uncertain, it’s uplifting to see how these merchants have survived thus far in the face of adversity and pivoted their business models to keep serving their customers and employees while staying safe. Their tenacity is needed now more than ever, and we’re humbled and grateful to work alongside them as they move forward

Key findings:

Biggest impact:

  • 75% of respondents experienced a loss of revenue since March
  • 33% reported having issues with their suppliers
  • 21% had to lay off or furlough their staff within Q2

Shutdown guidelines:

  • 33% of respondents maintained a physical location but had to change operations to stay compliant
  • 32% didn’t operate at all due to local restrictions
  • More than half (55%) were considered essential businesses.

Entrepreneurial mindset:

  • To stay afloat, 72% of businesses moved to contactless payment methods
  • 66% adopted curbside pickup or delivery
  • 60% offered relief to customers through reduced fees, delayed billing, waived costs

Looking at the near term, loss of revenue was noted as the biggest threat over the next six months, with 35% of respondents citing this as their top concern. Economic uncertainty was their second largest threat (18%), followed by fear of the virus and another local shutdown (13% each).

When asked to predict the most significant post-COVID impact on small businesses, respondents again cited loss of revenue, with nearly one in four (24%) selecting this as the largest long-term consequence. Closing of business was the second largest long-term concern (12%).

“Our customers are true small businesses — CardFlight merchants typically have one to ten employees and less than five locations or mobile service points,” said Mr. Webster. “We take pride in being able to help these merchants continue to operate through our SwipeSimple payment software, which has allowed our customers to easily and securely transition their business models to suit local public health guidelines due to its ability to accept payments in all ways business owners might need: mobile, in-store, and on the computer.”

About the report

This survey was conducted online between June 12 and June 30. The report is based on 243 total responses, 80% of which are small business owners. The majority of respondents have less than 10 employees, and 88% have either one or no physical location. To learn more about this survey, please contact Jesse Chen at

About CardFlight

CardFlight is a leading SaaS payment technology company making payment acceptance effortless and simple, by creating cutting-edge solutions designed to help small businesses grow.

SwipeSimple, a signature CardFlight product, reaches businesses through a sales channel of financial institutions, independent sales organizations, and merchant service providers. Used by more than 60,000 small businesses in the U.S., across all 50 states, SwipeSimple empowers entrepreneurs to accept payments on the go, in their stores, and at their computers.

CardFlight takes pride in building forward-thinking solutions defined by reliability and driven with the end-user’s goals in mind. The company is headquartered in New York City, with additional offices in Lincoln, NE. For more information, visit