Survey shows WY businesses anticipate revenue loss due to COVID-19
CHEYENNE, Wyo. - According to a statewide survey by the Wyoming Business Alliance, 88.5 percent of Wyoming businesses anticipate revenue loss due to the COVID-19 pandemic.
The Wyoming Business Alliance conducted the statewide survey, which closed on April 1, to capture data showing impacts to Wyoming business in light of the COVID 19. A total of 409 people participated in the survey, representing all counties and a wide variety of businesses, industries and nonprofits. Please click here to see all the results.
Here are some of the survey findings:
62.8 percent plan to keep their workforce the same in response to COVID-19 while 34.9 percent plan to decrease their workforce.
Of those responding, plans to either increase or decrease their workforce, 32 percent expected to cut up to 5 employees.
88.3 percent have had to alter their normal plans in light of the COVID-19 pandemic
29 percent plan to close their business temporarily, though many were unsure of the actual length of time.
Of those who are a restaurant or retail, 47.7 percent said they were doing curbside pick up while 34 percent offered other delivery options.
57.2 percent were still accepting cash
Findings on anticipated revenue loss
88.5 percent of respondents anticipate revenue loss
11.2 percent anticipated up to 10 percent revenue loss
17.4 percent up to 20 percent revenue loss
13.7 percent up to a 30 percent revenue loss
16.6 percent up to a 50 percent loss
9.8 percent up to a 75 percent revenue loss
11.3 percent up to a 90 percent revenue loss
4.2 percent expected a 100 revenue loss.
Resources considered helpful:
46.2 percent of respondents commented that Financial Assistance in the form of grants, loans, unemployment and tax relief would be helpful
9.9 percent wanted more information and communication
All counties were represented.
81.6 percent are located within city limits
81.6 percent of respondents have employees
Wyoming Business Alliance
The Wyoming Business Alliance serves as the state's premier business advocate and proponent with the mission of promoting and advocating a growing economy by connecting business leaders from across Wyoming, representing business interests and issues, and partnering with key business organizations and trade associations. For more information, visit www.wyomingbusinessalliance.com.
President, Wyoming Business Alliance