Our top priority during the COVID-19 crisis is reducing the negative impact it has on your business. To do this, we need your help.
Every week for the duration of the crisis we are surveying our members to discover how the virus is affecting independent business. We are then taking those results to key policy makers across the country—and working with them to provide greater relief measures to business such as yours. They're telling us this information is invaluable to them as the situation unfolds.
So far, we've conducted three surveys on the impact of COVID-19 on your independent business.
Here’s what our respondents are saying:
- 21% remain fully open, 31% are fully closed, 46% are partially shut down.
- 32% of those who have had to close are unsure if they will be able to reopen.
- 25% say they can survive less than a month under current conditions.
- Close to a quarter of businesses are not able to pay April’s commercial lease or mortgage payments.
- 86% believe the government should make emergency money available to businesses that have been hard hit by COVID-19 to cover their fixed costs.
- 42% are worried about having to close their business permanently.
- 68% viewed the new wage subsidy program as helpful (despite limited details being available).
- 56% said they have no more capacity to take on debt during this emergency
- The average cost of COVID-19 on small business so far is $160,000.
Here's what our respondents are saying: