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Published on Oct 8, 2016
Small
business owners aren't prepared to withstand financial tremors,
according to a new report by the JPMorgan Chase Institute, which
analyzed data from 597,000 small businesses during an eight month period
in 2015. The median small business could only survive for 27 days
should cash stop coming into their business. Restaurants only had a
16-day cash cushion in reserve. According to Diana Farrell, CEO of the
JPMorgan Chase Institute, the cash crunch makes small business owners
feel vulnerable, which helps explain the recent declines in the
closely-watched Small Business Optimism Index. TheStreet's Scott Gamm
reports from Wall Street.
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