The screeching slowdown in consumer spending caused by efforts to stem the spread of the Covid-19 pandemic has hit U.S. small businesses particularly hard, but there are some bright spots, according to the Electronic Transactions Association and merchant-acquiring research and consulting firm The Strawhecker Group.

The survey of more than 350 small businesses across various regions and industries from March 27-30 by TSG in collaboration with the Washington, D.C.-based ETA also confirmed bad news that other polls have found. Nearly 40% of small-business owners reported having temporarily or indefinitely closed operations as a result of the Covid-19 crisis, with restaurants, bars, and retailers taking some of the worst hits. Other suffering merchant segments include schools and non-profits. 

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