Nearly half of small business owners, including 59% of retailers, say they are at risk of shutting down in the fall, up 12% from last year's survey, according to a new report from Alignable, an online referral network for small businesses.

Half of the small retailers surveyed in Alignable's Small Business Revenue Report say they're cutting back on orders for the Q4 holiday season, with 38% of those businesses reporting that they're reducing orders by more than 20% compared to 2021.

The report found that 35% of small businesses in June couldn't pay rent in full or on time, up from 9% in January. According to Alignable, a majority of minority-owned and women-owned small businesses indicated they could go under this fall.