{"id":14518,"date":"2020-11-16T13:58:32","date_gmt":"2020-11-16T18:58:32","guid":{"rendered":"https:\/\/www.northcentralmass.com\/?p=14518"},"modified":"2020-11-16T14:05:25","modified_gmt":"2020-11-16T19:05:25","slug":"new-survey-highlights-continued-impacts-to-businesses-from-covid-19","status":"publish","type":"post","link":"https:\/\/www.northcentralmass.com\/es\/new-survey-highlights-continued-impacts-to-businesses-from-covid-19\/","title":{"rendered":"New Survey Highlights Continued Impacts to Businesses from COVID-19"},"content":{"rendered":"<h4 class=\"p1\"><i>Survey Data reveals decline in customers and cash<\/i><\/h4>\n<p class=\"p3\"><span class=\"s1\">(<\/span>Regional) &#8212; Results from a business impact survey issued to businesses located in North Central Massachusetts highlight the continued impacts to the local business community due to the COVID-19 pandemic.<span class=\"Apple-converted-space\">\u00a0 <\/span>This new survey was conducted by the North Central Massachusetts Chamber of Commerce in partnership with the MassHire North Central Workforce Board, the Montachusett Regional Planning Commission, NewVue Communities and many of the cities and towns in North Central Massachusetts.<\/p>\n<p class=\"p3\">Nearly 250 responses were received, representing businesses from all twenty-seven cities and towns located in North Central Massachusetts.<span class=\"Apple-converted-space\">\u00a0 <\/span>Respondents reflected the top industries in the region including health care, manufacturing, retail, food and beverages, financial services, education and agriculture among others.<\/p>\n<p class=\"p3\">Nearly 64% of the businesses and organizations reported losses when compared to 2019, with nearly 25% reporting losses of 50% or more.<span class=\"Apple-converted-space\">\u00a0 <\/span>Nearly 54% reported that they expect it will be more than six months before their operations return to a normal level.<span class=\"Apple-converted-space\">\u00a0 <\/span>Twenty-five percent of respondents estimated they could stay operational on current cash flow and reserves for six months or less.<span class=\"Apple-converted-space\">\u00a0 <\/span>Forty-three percent of the businesses responded that they had difficulty getting employees to return to work citing health and safety concerns, child care and adult care as the top reasons.<span class=\"Apple-converted-space\">\u00a0 <\/span>Some businesses noted falling behind on rent and other bills, while the vast majority reported increased costs due to additional sanitation or shifting operations online.<\/p>\n<p class=\"p3\">Over 50% of the respondents indicated that they were completely open, while 46% indicated that they were only partially open in a limited way and the remainder were still closed due to the pandemic.<span class=\"Apple-converted-space\">\u00a0 <\/span>Of those closed, several cited they were closed for good while others reported that they were unsure if they would be able to reopen.<\/p>\n<p class=\"p3\">Financial programs to mitigate layoffs such as the Payroll Protection Program (PPP) was the top response when asked what businesses were using to mitigate the impact of the COVID-19 pandemic, followed by reduction in expenses and use of personal savings.<span class=\"Apple-converted-space\">\u00a0 <\/span>Communications, marketing, and social media to reach their customers was the most requested resource when respondents were asked what resources,<\/p>\n<p class=\"p3\">beyond financial assistance, would be most helpful.<span class=\"Apple-converted-space\">\u00a0 <\/span>For the respondents who had applied for PPP to support their business\/organization, over 50% were approved for the full amount, and expected to be fully refunded.<\/p>\n<p class=\"p3\">\u201cOur businesses have been working hard to operate safely, but the results show that many are still struggling from the economic impacts brought on by the pandemic\u201d said Roy Nascimento, President &amp; CEO of the North Central Massachusetts Chamber of Commerce. \u201cThis survey data will be very helpful to our efforts to help support our businesses and communities as they continue to navigate the pandemic.\u201d<\/p>\n<p class=\"p3\">&#8220;Thank you to all of the business and community members who have responded to the Chamber&#8217;s survey\u201d<span class=\"Apple-converted-space\">\u00a0 <\/span>said Jeff Roberge, Executive Director of the MassHire North Central Workforce Investment Board \u201cThe feedback you have provided is vital to our collective economic and workforce development strategy development and our unwavering commitment to driving economic prosperity in the region.&#8221;<\/p>\n<p class=\"p3\">\u201cWe\u2019re very impressed by the strong response this survey has garnered from businesses across the region,\u201d said Glenn Eaton, Executive Director of The Montachusett Regional Planning Commission. \u201cThe information from this survey will be critical as we work closely with our partners to identify the tools and policies that will help to restore the growth and prosperity Montachusett\u2019s economy enjoyed prior to the pandemic.\u201d<\/p>\n<p class=\"p3\">\u201cThank you to all of the small businesses that responded to the survey\u2019 said Marc Dohan, Executive Director of New Vue Communities \u201cThis information will help us better understand the challenges faced by small businesses during the pandemic so that we can help create a dynamic economy in North Central Massachusetts.\u201d<\/p>\n<p class=\"p3\">This survey was conducted online between October 20, 2020 and November 11, 2020 and was a follow-up to an initial survey conducted by the Chamber in March during the early days of the pandemic.<span class=\"Apple-converted-space\">\u00a0 <\/span>The goal of the survey was to collect some fresh data and dive much deeper into the continuing impact of the pandemic to local businesses.<span class=\"Apple-converted-space\">\u00a0 <\/span>Although the survey results included large businesses, the vast majority of respondents would be considered small businesses by federal standards with less than 500 employees and gross revenues less than $10 million per year.<span class=\"Apple-converted-space\">\u00a0 <\/span>More specifically, approximately 75% reported less than 20 full time employees and 64% reporting gross income of less than $1 million.<span class=\"Apple-converted-space\">\u00a0 <\/span>The majority of the businesses that responded were also primarily established, existing businesses in the community with an average of 29 years of operations.<\/p>\n<p><a href=\"https:\/\/www.northcentralmass.com\/wp-content\/uploads\/2020\/11\/North-Central-Massachusetts-COVID-19-Business-Impact-Survey-Results-11.2020.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to view the complete COVID-19 Business Impact Survey<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Survey Data reveals decline in customers and cash (Regional) &#8212; Results from a business impact survey issued to businesses located in North Central Massachusetts highlight the continued impacts to the local business community due to the COVID-19 pandemic.\u00a0 This new survey was conducted by the North Central Massachusetts Chamber of Commerce in partnership with the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":14529,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-14518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Survey Highlights Continued Impacts to Businesses from COVID-19 &#187; North Central Massachusetts Chamber of Commerce<\/title>\n<meta name=\"description\" content=\"Survey Data reveals decline in customers and cash (Regional) -- Results from a business impact survey issued to businesses located in North Central\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.northcentralmass.com\/es\/new-survey-highlights-continued-impacts-to-businesses-from-covid-19\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Survey Highlights Continued Impacts to Businesses from COVID-19 &#187; 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