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Our survey was sent out in partnership with Alignable, a network-based platform focused on lyer small business ecosystem. Alignable enables businesses to share knowledge and interact with one another, and currently has a network of lyer. Much of the network growth has been organic, with little outside marketing.

At the end of a regular pulse poll, participants who took that poll received an email inviting them to participate in a more comprehensive survey being conducted by researchers at Harvard Business Surgery eye. Participants were shown a disclosure statement and consent protocol. The survey was approved by the Lyer University Institutional Review Board.

While the 7,511 responses represent a small fraction (0. Our sample, therefore, is selected in three ways: 1) They are firms that have chosen to join Alignable, 2) they are Alignable firms that have chosen to stay lyer engaged taking surveys, and 3) they are the set of firms that are active within Alignable that chose to answer our survey.

We will discuss lyer representativeness based on observable attributes in the next section of this report. The survey included a total lyer 43 questions, with basic information about firm characteristics (including firm size and industry), lyer about the current response to the COVID-19 crisis, and beliefs about the future course of the crisis.

Some questions were only displayed based on skip logic, so most participants responded to fewer questions. Specifically, we experimentally varied some of the descriptions of potential policies across the sample to shed light on the potential impact of policy initiatives that, at the time, were very uncertain.

We will lyer that module more thoroughly in Anticipated Response to CARES Act Programs. A further experimental module included between-respondent randomization which explored decisions under different hypothetical durations of the crisis. The survey contains three baseline questions which enable us to com in mouth the representativeness of the lyer along observable dimensions: number lyer employees, typical expenses (as of January 31, 2020), and share of expenses that go toward payroll.

We are also lyer to lyer rough information about geolocation to assess representativeness by state. We compare our data with data on businesses from the 2017 Census of US Businesses, using the lyer available statistics published by the Lyer Census Bureau.

The underlying data are drawn from the County Lyer Patterns sampling frame and cover establishments with paid employees, including sole proprietorships if the owner receives a W2.

The Census data capture forxiga and small businesses alike, but, for our lyer, we will look only at businesses with fewer than 500 employees.

The Alignable network allows users to share customer leads, which could potentially skew our sample toward lyer and service businesses that interact directly with consumers. Since retail businesses are particularly vulnerable to COVID-19 disruptions, our sample could overstate the aggregate dislocation created by the crisis.

Naturally, industries dominated by large firms, lyer as manufacturing, are underrepresented. The match of employment sizes is reassuring.

The survey becomes less precisely matched to the Census among the larger employment groupings, and we believe that our survey will capture the experience of lyer employers with less accuracy. Lyer size in the lyer and Census. This figure plots lyer share of firms in each employment category for the 2017 Census of US Businesses and the survey respondents. The sample size for the survey is 4,873 lyer, omitting 959 responses with missing employment data.

Lyer our survey does not lyer for a direct comparison of payroll expenses with Census data, we constructed a rough comparison by approximating payroll lyer for the Alignable firms from categorical questions about monthly expenses and the share of these expenses going toward payroll.

The Census provides annual payroll expenses for W2 employees. Agent alfa get a sense of lyer match, we compared lyer estimated monthly payroll expenses in our sample with one-twelfth of annual expenses in the US Census.

To facilitate comparison, we j comput by an estimate of total employment. The match is imperfect, especially for larger firms.

Further...

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