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Beyond The Trends Report – Restaurant Industry Insights

October 4, 2021 by Brodie Oldham

The Beyond The Trends Report – Fall 2021 Out Now!

Did you know that there are about a million restaurants in the U.S? And those restaurants employ nine million people?  As we prepared the latest Beyond the Trends report for Fall 2021, I took a deep dive into the restaurant industry in our small business data set to explore how restaurants were performing through the pandemic and how resilient they are now.

Here’s a quick snippet — the SBA’s Restaurant Revitalization fund delivered 74,498 grants accounting for $22.4B in funds for May through June of 2021. It’s a shot in the arm for restaurants. Here’s how the funds were distributed based on annual sales.

Distribution of Restaurants by Annual Sales Size source: SBA, Experian

Chart - Distribution of Restaurants by Annual Sales Size

The RRF program has done well servicing a diverse set of applicants and underserved community segments.

  • The Women-owned businesses made up almost half of the recipients
  • Veteran-owned businesses were only 5% of the program. Veterans received fewer loans overall but had much higher average loan amounts awarded
  • Restaurants in LMI designated areas were over a quarter of the program
  • Restaurants in lower socioeconomic areas were over a third of the program’s recipients

Would you like to learn about this and other trends impacting small business?

Download the Fall 2021 Beyond The Trends Report!

Download the Latest Report


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