A survey released this morning by The Business Council of Westchester’s Economic Recovery Task Force indicates that businesses in the county expect to be struggling for some time to recover from the economic impacts of the Covid-19 pandemic and the shutdowns that were put in place to help contain the outbreak.
About 100 businesses from a variety of sectors participated in the survey. Some of the sectors were energy, health and wellness, manufacturing, professional services, real estate/construction, retail, hospitality and restaurants and bars.
About 53% of those responding said that business was down or significantly down compared with the same time last year, with 6 percent saying it was the same and 6 percent saying it was up. The rest said the question was not applicable or didn”™t respond.
Only 1% of those responding said they anticipated closing in the short-term. There was a prediction by 44% that they would remain open but would continue to struggle, with 17% saying they would thrive and 25% saying they would break even.
A majority of the businesses, 43%, said they were classified as essential businesses and had never closed, while 36% reported that they had reopened in phases one through four of the state’s recovery program. Only three businesses said they had not yet reopened.
When asked what type of support would be most important, most businesses said obtaining grants and personal protective equipment (PPE), followed by marketing support.
A majority of those who reported needing PPE said their most-needed items were hand sanitizer and masks.
Not all businesses provided comments as part of their responses, but many of those that did were quite straightforward. For example:
- “I am a dance studio owner and dance instructor. Being closed for so long pretty much destroyed my business and my ability to gain new students. It is a very difficult struggle and I don’t know if I will make it past 2020.”
- “Property tax relief would be important as well as relief on any other fees to be paid to governments.“
- “We are thankful to be busy during these difficult times.”
- “Our ability to keep on staff and stay open depends on the next 4 months, whether COVID infections stay low, and what grants or additional PPP loans become available. We are open but our income is way down and expenses increased.”
John Ravitz, executive vice president and COO of the Business Council told the Business Journal, “This survey is another tool that we hope will be able to help both the state and county get a good understanding from the field of what businesses are experiencing, what some of their concerns and challenges are. We can be optimistic that people are keeping their doors open but we’ve got a long way to go.”
He said that the survey was designed to get feedback from all sectors that play a pivotal role in Westchester’s economic landscape.
“Obviously in Westchester County the hospitality sector has been hit the hardest and it’s going to take some time to really be able to get a handle on recovery in that area,” Ravitz said. “It’s going to be important for us to continue to do these surveys to make sure that we have benchmarks for how things are moving forward and as we continue the reemergence of the county.”
Marsha Gordon, president and CEO of the BCW, said, “We hope this information will give our elected officials a glimpse into how our recovery is proceeding and what more they can do to assist the business community.”™”™
