COVID-19 Current State of Business - Saskatchewan …...resume. Open up economic activity soon, in a...
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Page 1 of 7 COVID-19 Current State of Business April 22, 2020 Core Issue: The novel coronavirus (COVID-19) has disrupted international trade and global economies on a massive scale. Rapid and coordinated action by the federal and provincial government is required to ensure businesses can survive this global pandemic. The Saskatchewan Chamber of Commerce conducted a survey on April 17 - 21, 2020. There were over 820 responses from across the province. The results of this survey are summarized below. Overview: • 97% of respondent’s businesses are being impacted by COVID-19. • 96% reported a ‘Somewhat to Significant Negative Impact’. • While some businesses are experiencing slight reductions, the majority have either closed or have lost 75-95% of their revenues. • As expected, those businesses who have been ordered to close (retail and restaurants) have seen the most layoffs and the most dramatic drop in revenues. • There is strong support for a staged reopening of facilities and businesses, but only when it is safe to do so. Key Findings: About 31% of respondents stated they were not accessing various support programs. However, the vast majority were aware of and had applied or intended to use these supports and generally thought the governments have done a good job in reacting with the supports required. Those who were not using the programs were often not eligible and several voiced concerns over exclusions. Some indicated frustration with the changing criteria and the delays in getting program details and not being able to quickly enough see the actual benefit whether it be cash or confirmed deferrals of payments. While the closures of businesses, whether mandated by the province or voluntary, have only been in place for 5-6 weeks, continued closures are a concern for respondents. Respondents are concerned about staff, customers and the sustainability of their businesses and the communities in which they live. Clearly the longer they are closed or see drops in revenue, the more it will impact their viability over time. However, even with the unprecedented level of negative economic challenges facing business, they are very committed to acting responsibly and do not support opening up the economy before the situation is safe from a medical perspective.
Transcript of COVID-19 Current State of Business - Saskatchewan …...resume. Open up economic activity soon, in a...
Page 1 of 7
COVID-19 Current State of Business
April 22, 2020
Core Issue: The novel coronavirus (COVID-19) has disrupted international trade and global economies on a massive scale. Rapid and coordinated action by the federal and provincial government is required to ensure businesses can survive this global pandemic. The Saskatchewan Chamber of Commerce conducted a survey on April 17 - 21, 2020. There were over 820 responses from across the province. The results of this survey are summarized below. Overview:
• 97% of respondent’s businesses are being impacted by COVID-19.
• 96% reported a ‘Somewhat to Significant Negative Impact’.
• While some businesses are experiencing slight reductions, the majority have either closed or have lost 75-95% of their revenues.
• As expected, those businesses who have been ordered to close (retail and restaurants) have seen the most layoffs and the most dramatic drop in revenues.
• There is strong support for a staged reopening of facilities and businesses, but only when it is safe to do so.
Key Findings: About 31% of respondents stated they were not accessing various support programs. However, the vast majority were aware of and had applied or intended to use these supports and generally thought the governments have done a good job in reacting with the supports required. Those who were not using the programs were often not eligible and several voiced concerns over exclusions. Some indicated frustration with the changing criteria and the delays in getting program details and not being able to quickly enough see the actual benefit whether it be cash or confirmed deferrals of payments. While the closures of businesses, whether mandated by the province or voluntary, have only been in place for 5-6 weeks, continued closures are a concern for respondents. Respondents are concerned about staff, customers and the sustainability of their businesses and the communities in which they live. Clearly the longer they are closed or see drops in revenue, the more it will impact their viability over time. However, even with the unprecedented level of negative economic challenges facing business, they are very committed to acting responsibly and do not support opening up the economy before the situation is safe from a medical perspective.
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When asked to describe their view on the economic recovery going forward, 86% of respondents indicated that “Open up economic activity soon, in a slow and gradual manner guided by credible public health data” or “Wait until we are sure we have no new cases and only then start a gradual removal of restrictions”, were the right paths forward. The comments on economic recovery were clear: a slow, steady re-opening to avoid a surge of cases is vital to ensure businesses can survive in the long-term. Q1: Where in Saskatchewan is your business?
Regina a
nd area
Saskato
on and ar
ea
Moose Jaw
Swift Curre
nt
North Batt
leford
Lloyd
minster
Esteva
n
Wey
burn
Yorkton - M
elville
Prince
Albert an
d North
Other (plea
se sp
ecify
)0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
Responses
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Q2: Please select one industry that best describes your business:
Q3: Is your business currently being impacted by COVID-19?
Agricu
lture,
fores
try, fi
shing a
nd hunting
Mining, quarr
ying,
and oil a
nd ga
s extr
action
Utilitie
s
Construc
tion
Manufac
turing
Wholes
ale tr
ade
Retail t
rade
Transp
ortatio
n and w
areho
using
Inform
ation an
d cultu
ral in
dustries
Finance
and in
suran
ce
Real e
state
and re
ntal an
d leasi
ng
Professio
nal, sci
entifi
c, and te
chnica
l servi
ces
Manag
emen
t of c
ompanies
and en
terpris
es
Administrat
ive an
d support,
waste…
Other (plea
se sp
ecify
)0.00%5.00%
10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%50.00%
Responses
Yes No Unsure0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
Responses
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Q4: What is the short to medium-term impact to your business?
Q5: What is your change in revenue from March to April 2020?
Significantnegativeimpact
Somewhatnegativeimpact
None Somewhatpositiveimpact
Positiveimpact
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
Responses
Less than 15% More than 15%but less than 30%
More than 30% Comments:0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
Responses
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Q6: How many people do you typically employ?
Q7: What is your current employee situation?
1-49 50-99 100-499 499+ Comment:0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
Responses
I have had toPERMANENTLY
layoff staff
I have had toTEMPORARILY
layoff staff
I have not laidoff staff and I am
not accessinggovernment
supportprograms
I am usinggovernment
supportprograms tokeep staff on
payroll
Other (pleasespecify)
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
Responses
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Q8: If you are using government support programs, please check all those that apply:
Q9: Which one of the following statements best describes your view on the economic recovery going forward?
I am not a
ccessi
ng any s
upport progra
ms
Canad
ian Emerg
ency
Relief
Benefi
t (CERB)
Canad
a Emerg
ency
Wag
e Subsid
y (CEW
S)
Saska
tchew
an Sm
all Busin
ess Emerg
ency
…
Canad
a Emerg
ency
Business
Account (C
EBA)
Temporar
y Wag
e Subsid
y (10%)
Business
Credit A
vaila
bility P
rogram (B
CAP)
Work-
shari
ng progra
m
Saska
tchew
an Se
lf-Iso
lation Progra
m
Other (plea
se sp
ecify
)0.00%5.00%
10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%
Responses
Wait until we aresure we have no
new cases and onlythen start a gradual
removal ofrestrictions.
Our positive testsare low enough soall restrictions oneconomic activity
should be removedand normal day-to-day activities should
resume.
Open up economicactivity soon, in aslow and gradualmanner guided by
credible publichealth data
Business activityshould never havebeen restricted in
the first place.
Other (pleasespecify)
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
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Note: “Other Comments” were not included in this survey recap. Please visit our website for recommendations and federal/provincial government actions to date. For a list of resources to assist businesses in preparing and managing through the COVID-19 pandemic, please visit our website.
