Nearly one-third (31%) of small and medium-sized business owners and managers in the United States say their business is currently not operating as a result of the coronavirus pandemic. That’s one of the standout statistics in a new nationwide survey that assessed the state of small and medium-sized businesses (SMBs) in America amid the COVID-19 outbreak.

Facebook teamed up with Small Business Roundtable, a coalition of small business and entrepreneurship organizations, to conduct the survey of 86,000 people who owned, managed or worked for SMBs. The “State of Small Business Report” revealed insights on impacts, top challenges, how businesses are trying to adapt and even glimmers of hope and optimism.

Data from the State of Small Business Report

“As revealed in the State of Small Business Report, small businesses continue to face formidable challenges due to COVID-19’s impact,” said Karen Kerrigan, CEO and president of the Small Business and Entrepreneurship Council. “At the same time, their resiliency and optimism serves as a ray of hope during the early stages of reopenings across the United States.”

Among the starker findings: The report noted that 52% of owners of personal businesses are currently not operating. The survey says “personal businesses” pertain to people who reported that they were “self-employed providing goods or services” or that they “produce goods sold for personal income” but did not otherwise self-identify as an “owner” or “manager.”

Meanwhile, only 45% of owners and managers of SMBs say that they would rehire the same workers when their businesses reopen, the survey found. The same was true for 32% of personal businesses.

According to the report, SMBs’ biggest challenges are access to capital and weak customer demand. Nearly three in 10 SMBs (28%) say cash flow is their top challenge. Relatedly, one in five report that lack of demand is their most significant hurdle.

Data from the State of Small Business Report

Small business leaders are also struggling to balance running a business with caring for their households.

Nearly half (47%) of SMB owners and managers report feeling burned out trying to take care of business and household responsibilities at the same time. Almost two-thirds (62%) of survey respondents report spending between one and four hours a day on domestic or household care activities.

Data from the State of Small Business Report

Even so, SMBs are trying to roll with the punches as best they can, adapting in part by turning to internet tools. Just over half (51%) of businesses say they’re increasing online interactions with clients, while 36% note that they are now conducting all their sales online. More than one-third (35%) that have changed operations report that they have expanded the use of digital payments.

Despite all the disruption and forced evolution, many SMB owners and managers remain upbeat about their long-term prospects. While 11% of operating businesses expect to fail in the next three months if dire COVID-caused conditions persist, almost six in 10 (57%) SMBs assert that they are optimistic or extremely optimistic about the future of their businesses.

“Now more than ever, it is crucial to raise awareness about the struggles that small businesses are facing in response to the economic turndown from the COVID-19 pandemic. Despite these setbacks, we are proud of the small business community’s resilience,” said Small Business Roundtable Co-Executive Directors Rhett Buttle and John Stanford in a joint statement.