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Chamber, City, GADC Release Business Reopening Survey Results

Published Wednesday, May 27, 2020

The Greenville Chamber, City of Greenville and Greenville Area Development Corporation released results from a recent survey of Greenville-area businesses assessing their top needs and concerns as they reopen and return to the office.

 

As of May 11, 2020, key findings from the survey of more than 300 local businesses include the following:

1. Results demonstrated improvement in overall sentiment over April.

While 31% of businesses are worried about the impact of Covid-19 and staying in business, this is a marked improvement over the April survey results where 39% reported concern.

2. While still improving over the previous month, almost 1 in 2 woman and minority-owned businesses are worried about impacts and staying in business.

49% of woman and minority-owned businesses reported being worried about impacts and staying in businesses, compared to the overall average of 31%.

3. Reported gross income was reduced by 45% in April.

While slightly better than expected (businesses reported a projection of 47% reduction for April) businesses continue to report being significantly impacted year-over-year. Businesses reported an expected revenue reduction for May of 43% from May 2019.

4. Businesses have taken a variety of actions to reduce financial strain.

Nearly 50% of participants have received PPP funds. 1 in 3 businesses have reduced their workforce while 1 in 5 have requested property or loan deferral or adjustments.

5. Nearly 20% of businesses have applied for, but not yet received, federal funding.

1 in 5 businesses have applied for but have not yet received PPP and EIDL loans.

6. As businesses reopen, safety is the number one concern.

Proving a safe environment for employees and customers topped the list, with 62% of businesses reporting this as a concern. Nearly 50% cited customers not returning as a concern. Other top responses included liability, Covid-19 testing and access to childcare.

The results will be used by area organizations to guide and direct recovery efforts.

View the report here.

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