BARNSTABLE – Results from the Cape Cod Commission’s local business survey revolving around the impacts of the coronavirus pandemic have been released.
Around 350 business owners responded to the survey, according to Chief Planner Chloe Schaefer.
Generally across the Cape, the commission is reporting that there has been a decline in sales and consumers, as well as hours of operation. Many closed businesses plan on reopening, the survey showed.
While most businesses in the region were able to avoid laying off workers, the survey shows that revenue loss has been “significant.”
Many business owners reported losses of over 50%, and almost half of the respondents are anticipating further revenue drops of more than 50% over the course of the next six months, in comparison to typical years.
“We’ll have to see how the summer season plays out,” Schaefer said, “but these are definitely very severe impacts.”
Only a small number of workers were able to transition to remote operations on Cape Cod, emphasizing that top industries in the area, such as restaurants and accommodations, require in-person labor.
The commission reports that the top need for businesses outside of financial aid is increased communications and marketing, followed by operational assistance with things like management and financing.
Schaefer said that future versions of the survey should be issued going forward as a way to gauge how issues and needs for local businesses have changed, especially given the scale of the first round of results.
“It’s really been eye opening to see the extent of some of these impacts,” she said.
To read the full survey results, visit the Cape Cod Commission’s Cape Cod COVID-19 Dashboard by clicking here.
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