“Living payroll to payroll.” That’s one takeaway about small businesses from a first-of-its-kind effort by economic development professionals to monitor the business and worker impacts of the pandemic. According to a dashboard hosted by Blane Canada Ltd, more than 70% of responding businesses have seen a negative impact on revenues. About 25% have closed operations, including 14% who have done so voluntarily. About 5% predict job losses in the next six months. These results are unfolding in a real-time dashboard you can view for free.
As of June 22, more than 6,000 businesses, primarily U.S. based, have completed the survey. The dashboard shares a glimpse of business sentiment regarding remote work, closures, job loss and revenue loss in real-time.
Dean Whittaker, founder, president and CEO of Whittaker Associates, and a member of the Business Retention/Expansion COVID-19 Response Network that gave rise to the dashboard, presented a webinar for our economic development partners about the pandemic’s economic impact recently.
“We’re collecting critical data to help you plan an agile response as we work to emerge from this pandemic,” said Whittaker. “The data is sourced directly from peers on the frontlines. We’re encouraging everyone to participate to get a clear picture of opportunities to support your business communities as they arise.”
- Community Development