Williamson County Business COVID-19 Survey Analysis Released

RRLivingMag
Posted by RRLivingMag April 30, 2020
 Williamson County Business Survey Analysis Released
Over 700 businesses respond with valuable insight for local leaders
In preparation for  “Open Texas” for business, a host of business assistance programs within Williamson County collaborated to gather information about the impact to business in Williamson County. The goals were to better understand the broad operational condition of businesses and assess business concerns and perspectives on their needs as Texas begins to gradually open their doors .
Here are some key take -a-ways:
1. Clarity and Consistency in Communication– Policy makers must make it a priority to be clear, metrics-based, and consistent in communicating about regulations and processes moving forward. A lack of consistency and clarity in communication from government at federal, state, and local levels was a source of irritation to business lead
2. Regional Considerations-Employees live in surrounding communities, suppliers deliver throughout the MSA, and people and businesses purchase products and services from the entire region. Failure to bring some consistency to policy in the region will hinder efforts to reopen central Texas in an orderly and productive fashion.
3. Uncertainty about Customers, Supply Chains, and Employees– In the short term, businesses are eager to return to operations as soon as possible, but are concerned that employees may have difficulty returning to work if furloughed or may be unable to return to their place of business if working remotely. Likewise, supply shortages experienced by the healthcare industry and consumers are also expected to be operational challenges for businesses across diverse industries.
Perhaps the largest and most widely shared concern was the reaction of consumers and markets during a reopening process. Businesses that have remained largely open reported having few or no customers. Businesses that are shut down or severely limited in operations are greatly concerned about the presence of their clients and the reaction of market.
4.Continued Financial Assistance– This will be important. In spite of the unprecedented investment from the Federal government, combined with local grant program assistance, 45% of survey respondents reported having four weeks or fewer of cash on reserve to remain in business.

5. Operations –

  • 35% of businesses reported being operating as normal, or fully operating remotely, 32% reported operating on a limited basis (either on location or remotely), and 30% of businesses reported being closed on a temporary or indefinite basis.
  • More than 45% report having no remote work possible. Of businesses that are open, more than 44% reported that more than three-fourths of their workforce is working remotely.
  • More than 60% of survey respondents have changed their business model, and the same percentage indicate their business model will remain changed after restrictions are lifted.

    6. Safety:

    • 69% of businesses report they feel it is safe for their employees and customers to begin to return to normal operations on a phased basis, as has been recommended in the Open Texas plan.
    • Survey participants reported that increased use of personal protective equipment, continued adherence to recommended social distancing practices, greater access to COVID-19 testing, and additional cleaning practices would be necessary to ensure a safe operating environment.

      7.Preparedness –

      • Nearly 27% of businesses indicated they could return to full operations within one day of notice.
      • 63% reported they could reestablish normal business operations within one week or less.
      • Less than 20% would require more than one-week notice
        8. Employees–
        • 57% of businesses have reduced employee hours and nearly 39% have reduced employee wages, but 58% have not reduced staffing levels through furlough or layoffs.
        • More than 24% of businesses have had to reduce staff by five or fewer.
        • One third of survey participants are concerned that employees may not return to work when operations begin, with one third of businesses also reporting that employees may have difficulty returning to work because of the suspended 2020 school session, or lack of access to daycare services.
         
        9. Financial –
        • 45% report having four weeks or fewer of cash on hand to remain in business.
        • 13% of businesses report being unable to pay any businesses expenses in the previous four weeks, and more than 18% of businesses anticipate they will be unable to pay any expenses in the next four weeks.
        • More than 50% of businesses project they will have the capability to pay business lease, payroll, utility bills, and other business expenses in the next four weeks. Approximately 33% project they will be able to pay their business operations loan if they have one.
        • More than half of survey participants have applied for an SBA Paycheck Protection Program Loan, and more than 29% have applied for a local grant program available in their area.
 
The survey was administered to businesses in Williamson County from April 17 to 24 through the SurveyMonkey website. More than 700 businesses responded to the survey, answering at least some questions. Most questions received between approximately 560 to 600 responses from participants. Survey participants shared information on a confidential basis. 
This effort was spearheaded by the Williamson County coalition which included: Cedar Park Chamber of Commerce; City of Cedar Park; City of Georgetown; City of Round Rock; Georgetown Chamber of Commerce; Greater Round Rock Community Foundation; Hutto Chamber of Commerce; Leander Economic Development Group; Round Rock Chamber; Taylor Economic Development Corporation; Williamson County; and Workforce Solutions Rural Capital Area.
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