CenterState CEO Shares Phase 1 COVID-19 Business Impact Survey Results |
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![]() In response to COVID-19 CenterState CEO rapidly reprioritized and shifted how it deploys staff and resources to support members and stakeholders, and meet the emerging needs of the community. The guiding framework for these efforts is: Assess. Respond. Mitigate. Recover. To begin to assess the impacts of the COVID-19 pandemic on the businesses, institutions and nonprofits throughout the region CenterState CEO launched a Phase 1 COVID-19 Business Impact Survey, and in parallel, an ambitious effort to reach out to more than 1,500 members directly. More than 240 Phase 1 COVID-19 Business Impact Survey responses were received between March 19 and April 8, providing CenterState CEO with critical, real-time insights into the disruptions businesses and nonprofits are experiencing. This data is informing the organization’s early response efforts and guiding conversations with elected officials at every level. The survey results represent a cross-section of industries and a broad range of company sizes, with more than half of companies between 1 and 50 employees. As part of its direct outreach to members, CenterState CEO also recorded the impacts on individual businesses, as well as their concerns and the actions they are taking. For most survey respondents, a rapid decrease in customers and sales is the primary concern, with employee well-being and cash flow following close behind. Responses indicated that these concerns will only grow in size and scale the longer this economic shutdown continues. Additionally, access to timely, trustworthy information, emerging relief programs and community resources are top needs. In response to these pressures, businesses are cutting costs by reducing operation hours and making cuts to payroll through layoffs and reductions in shifts. The growing majority of businesses have concerns with revenue, customers and employees, and cash flow, though concerns about supply chains is increasing over time. The survey also shows that businesses are offering more online and virtual services, developing work from home policies and offering discounted sales. New demand in critical supplies and household necessities, such as food and grocery, has led to a limited amount of new hiring, with 10% of those surveyed saying that they are seeking new employees. One out of five manufacturers reported an increase in demand that required hiring new employees. Key Findings from Phase 1 COVID-19 Business Impact Survey
Understanding the needs of businesses has allowed CenterState CEO to:
Already, the demand for some of these services has evolved as new circumstances arise. As such CenterState CEO is asking for continued feedback through its new Phase 2 COVID-19 Business Impact Survey, launched on April 9. As of April 15, more than 50 responses have been received from the Phase 2 Survey. Initial findings from CenterState CEO’s Phase 2 COVID-19 Business Impact Survey:
CenterState CEO will continue to track responses to the Phase 2 COVID-19 Business Impact Survey and provide resources updates on its COVID-19 Business Resources page. It also will respond to immediate questions or concerns at support@centerstateceo.com. |
Post DateApr 16th 2020Latest CEO News |