East Valley Chambers Release Second COVID-19 Business Impact Report

Businesses Share Stress of Meeting Demands of Debt, Payroll, and Keeping Business Open

EVCCA

The East Valley Chambers of Commerce Alliance (EVCCA) released today the findings from the second survey of a series conducted of its more than 5,000 members to determine the immediate impact of the COVID-19 pandemic on their revenue, operations, and supply chains.

The report includes responses from nineteen industry sectors and nearly 70 percent of respondents represent businesses with less than 20 employees. Based on the data and feedback received, the following were identified:

  • Loans and debt relief are top of mind for the majority of respondents with 56% applying for the SBA’s Economic Injury Disaster Loan and 47% preparing to apply for the Paycheck Protection Program loans.
  • Only 21% of respondents noted there was no change in their current business model.  Another 21% said their business remains open with a skeleton staff but have either placed employees on furlough or laid off staff.  Sixteen percent were able to transition to full remote working.  With another 16% combined closing their business location, furlough or laid off all or some of their employees.
  • Thirty-one percent of respondents noted they will be requesting rent or mortgage relief.
  • Thirteen percent respectively are looking at utility and accounts payable relief.

 

The EVCCA will use this data, along with information received from upcoming surveys, to advocate for the immediate and long-term needs of the businesses for which they present.

To view the published report, visit https://gilbertaz.com/uploads/ImpactReport0407.pdf.  Additional business resources related to the COVID-19 pandemic can be found on the Gilbert Chamber of Commerce’s resource page at www.gilbertaz.com/covid-19.

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