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Colorado Springs Chamber & EDC survey reports major business loss due to COVID-19

Posted at 3:25 PM, Apr 06, 2020
and last updated 2020-04-06 18:12:02-04

COLORADO SPRINGS — The Colorado Springs Chamber & EDC announced on Monday the results of a community-wide survey designed to identify businesses’ concerns and assess needs related to the impacts of COVID-19.

“As COVID-19 is significantly disrupting our regional economy, we needed a way to ask businesses in the Pikes Peak region directly how they are being affected so that we can effectively triage resources and needs,” said Cecilia Harry, CEcD, chief economic development officer for the Colorado Springs Chamber & EDC.

The survey collected data between March 18 and March 23, 2020.

“Community leaders quickly assembled a taskforce to execute one effort of data gathering to inform how we can support businesses at the local level,” added Crystal LaTier, executive director of economic development for El Paso County’s Economic Development Department. “We want to identify local strategies to assist businesses as soon as possible in addition to the state and federal packages available.”

The poll was taken before Gov. Jared Polis’ stay-at-home order issued on March 27, 2020 from 176 Pikes Peak Region business.

The results were staggering, with 78% of respondents reporting lost business due to the outbreak of COVID-19. In addition, 57% of respondents reported that their business has internal or external plans to respond to the COVID-19 crisis; 18% were uncertain.

“While the key factors were consistent across major industry categories, how each of these disruptions affects individual industries and companies is nuanced. These factors will likely have consequences in other area of business operation, such as financial and capital needs,” said Harry. “On a positive note, we are pleased that the survey found several industry sectors are seeing increases or stability in their business at this time.”

If your business is still open during this time, please make sure you are on our'We're Open' page.

In addition, if you are looking for employment, consider visiting our 'Workers Wanted' page where we will be featuring job openings and giving you the tools to connect with those employers.

If you are a business looking for employees, can call also submit that here.