Chamber of Commerce Survey Reveals COVID-19 Impact on Hoosier Businesses
It’s no secret that businesses in the state of Indiana are struggling as a result of Governor Eric Holcomb’s mandatory stay-at-home order. Now, as a result of a recent polling effort by the Indiana Chamber of Commerce, we’re beginning to get a much clearer picture of how COVID-19 has devastated the Hoosier economy.
“We asked [Indiana businesses] to rate on a scale of 1-10 – with 10 representing total devastation – how their business has been impacted so far,” Kevin Brinegar, President and CEO of the Indiana Chamber of Commerce told WIBC host Tony Katz Friday.
Brinegar said the biggest impacts noted in the survey were revenue loss (80%), cash flow concerns (51%), suspended operations (34%), and employee layoffs (32%).
The survey also asked when respondents thought businesses should resume operations. The chamber says 33% said “after May 1,” another 33% said “when more widespread testing has taken place,” and of the 26% in the “other” category, the predominant response was “as soon as possible.”
The respondents also listed among the challenges of returning to normal: customer retention (48%), finances (46%), personnel (38%), and supply chain (32%).
“There are very different opinions and feelings about this, which reflects the challenge of this invisible enemy that we’re fighting, but it also reflects businesses owners’ concerns with protecting their employees and their customers,” Brinegar told WIBC’s Tony Katz. “So there’s a lot of uncertainty regarding the right time [to reopen for business].”
“We think that hopefully can be in early May, but we understand and appreciate that the governor’s got to look at the numbers on new cases, on deaths, have we gotten to the other side of the peak and are we on the downside of that hill?” Brinegar said. “And ultimately are there enough ICU beds and ventilators to handle the cases. I think Indiana has done a masterful job in that regard.”
Click below to hear Tony’s full interview with Kevin Brinegar, President and CEO of the Indiana Chamber of Commerce
