Survey Results: How Chamber Businesses Are Doing Now
At the beginning of the year, the Lexington Chamber asked its shareholders about how COVID-19 continues to impact their business operations. The results are encouraging and continue to give a positive outlook on business in Lexington and the overall Midlands region.
Regarding sales, 40 percent of survey participants said that their sales had decreased since the pandemic began, while a combined 60 percent said their sales had either remained steady or increased.
Another encouraging finding is that 45 percent of respondents estimated their sales would increase in the first quarter of this year.
Applications for Relief Programs
The majority of businesses that responded (57%) applied for the Paycheck Protection Program (PPP), followed by the Economic Injury Disaster Loans (EIDL).
The US Small Business Administration announced Monday that the PPP has re-opened this week for new borrowers and certain existing PPP borrowers.
Click here for key PPP updates and other COVID-19 related resources and relief options.
An overwhelming number of survey participants (52%) indicated that they would not be applying for a second round of relief funding.
How Business Are Being Or Plan To Be Affected By COVID
The top five disruptions that businesses are currently or anticipate experiencing are:
- Event Cancellations
- Restrictions on in-person meetings / travel
- Work schedule / location adjustments
- Employee COVID illness in the workplace
- Supply chain disruptions
For updates on business relief funding and other pandemic-related resources, visit our COVID-19 Business Resource page.