COVID-19 Business Impact Assessment Survey Results

In April, we asked Prince William County businesses to share how the unprecedented emergency measures that were put into place to help contain the spread of the COVID-19 pandemic had affected their operations.

We sincerely thank all of those who took the time to respond; the information provided gives us insight into the effects the pandemic is having on the local economy.

We hope you will continue to provide feedback and let us know how your business is progressing as we look towards recovery. To that end, look out for a follow-up survey from us in the coming weeks. 

In the meantime, here’s what our businesses had to say …

 

71% of businesses were either still open or operating on some level
 


 

83% of businesses experienced a decline in revenue
 


 

49% had already contacted a bank or lending institution for bridge financing or a loan
 


 

38% experienced a change in their workforce
 


 

43% of businesses did not anticipate a permanent reduction in staff within three months; 40% were unsure
 


Looking forward, the top concerns of businesses were:

  • financial impact on business

  • decreasing consumer confidence

  • global or US recession

  • employee stress
     

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