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COVID-19 SURVEY: IMPACT ON DSM BUSINESSES

In response to the recent developments with the COVID-19 (Coronavirus) pandemic, the Greater Des Moines Partnership sought feedback via survey from local businesses to determine how they are affected by the pandemic, how they are addressing the situation and what The Partnership can do to help.

SURVEY OVERVIEW

  • Survey duration: March 16-24, 2020, with a majority of responses submitted within the first several days
  • Total responses: 601
  • Survey solicitation: The survey was distributed to Greater Des Moines Partnership stakeholders via e-newsletter, e-mail communications and social media channels, as well as promoted by the Partnership Affiliate Chambers, Des Moines Business Record and Des Moines Register.

SURVEY RESULTS

How is your organization being impacted by COVID-19 (Coronavirus)?

The most popular (40% or above) responses included:

  • We are making other changes to the way we operate. (62%)
  • We are starting to restrict spending because of the uncertainty. (47%)
  • We are encouraging team members to work remotely. (41%)

The following responses were selected by fewer than 40% of respondents:

  • We are adjusting our hours of operation due to decreased customer traffic. (21%)
  • Our supply chain is interrupted. (16%)
  • The market is causing us to draw on our line of credit. (13%)
  • We are adjusting our hours of operation due to increased customer demand. (4%)

What is your organization doing to address the growing concerns over the spread of COVID-19?

The most popular (40% or above) responses included:

  • Routinely sharing updates on COVID-19 with employees and external audiences. (64%)
  • Rescheduling or canceling large meetings and events. (62%)
  • Updating our organizational priorities, policies and operating procedures as needed. (61%)
  • Encouraging additional cleaning of workspaces and common areas. (60%)
  • Rethinking our own upcoming workplace activities, meetings and events. (55%)
  • Stocking up on sanitizer and cleansing wipes for staff use. (52%)
  • Mandating additional cleaning of workspaces and common areas. (52%)
  • Encouraging virtual content delivery modes rather than in-person gatherings. (49%)
  • Encouraging employees to conduct business remotely, including meetings and daily work duties. (43%)

The following responses were selected by fewer than 40% of respondents:

  • Restricting employee travel and participating in professional gatherings. (39%)
  • Placing limitations on the number of people who can attend meetings in-person. (34%)
  • Discussing time-off and sick leave policies. (34%)
  • Encouraging employees to reschedule travel. (29%)
  • Creating toolkits, resources and content to be shared with employees and external audiences. (25%)
  • Adjusting time-off and sick leave policies. (24%)

What is the length of restrictions on meetings, events and/or travel?

The most popular (25% or more) responses included:

  • We are assessing and adjusting as needed. (61%)
  • Leadership is discussing and making decisions on a daily basis. (37%)
  • Restrictions and/or recommendations are in place for the foreseeable future. (25%)

The following responses were selected by fewer than 25% of respondents:

  • Restrictions and/or recommendations are in place for the next two weeks. (18%)
  • Restrictions and/or recommendations are in place for the next 30 days. (16%)
  • Restrictions and/or recommendations are in place for the next eight weeks. (5%)

What is the current and/or anticipated impacts of school closures on your business?

The most popular (30% or more) responses included:

  • Employees require greater flexibility. (52%)
  • More employees working from home. (35%)
  • Organization will suffer. (31%)

Of note: There were specific comments such as “decrease in business” and “temporary closures” from respondents.

The following responses were selected by fewer than 30% of respondents:

  • Fewer employees available to work regular business hours. (27%)
  • Work projects and initiatives may be delayed or stalled. (26%)
  • May need to recruit new employees, contractors or freelancers. (4%)
  • May need to invest in more A.I. tools to keep workflow stable. (4%)

Does your business anticipate needing financial assistance?**

  • At this time, nearly half (49%) of the survey respondents did not anticipate needing financial assistance.
  • Approximately one-eighth of respondents (13%) said they are concerned their business may not be able to sustain or overcome this financing challenge.
  • The remaining respondents cited their financial impact as follows:
  • Anticipate needing up to $100,000 in financial assistance for their business. (24%)
  • Anticipate needing $100,000-$250,000 in financial assistance for their business. (7%)
  • Anticipate needing $250,000-$500,000 in financial assistance for their business. (3%)
  • Anticipated needing more than $500,000 in financial assistance for their business. (3%)

What are the biggest concerns about COVID-19?

All available responses were the most popular (40% and above):

  • The impact on local and small businesses. (89%)
  • Public health overall. (80%)
  • The impact on our medical and healthcare professionals and systems. (69%)
  • The long-term impact on the United States economy. (66%)
  • The impact on the market. (63%)
  • The impact on my organization’s bottom line. (61%)
  • The long-term impact on our community. (60%)
  • The mental health impact on our employees and community. (56%)
  • The long-term impact on our global economy. (48%)

* Percentages have been rounded to the nearest whole number.

* * Respondents could select just one response; all other questions allowed respondents to select multiple responses.