Most small companies say they’re prepared for a coronavirus spike, survey reveals

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Folks carrying facemasks wait to purchase greens at a market vegetable stall as important retailers reopen from the coronavirus (Covid-19) shutdown.

SOPA Pictures | LightRocket | Getty Pictures

Smaller-sized companies have been battered through the six months of the coronavirus pandemic however are feeling assured about their capability to face up to a second wave, in accordance with a survey launched Tuesday.

Whereas some 63% of small- and mid-sized companies mentioned they’re more likely to lose at the least 1 / 4 of their income this yr, some 78% general mentioned they really feel at the least considerably assured they will deal with one other surge in Covid-19 cases within the fall and winter, the Comcast Enterprise survey of practically 600 small- and mid-size companies confirmed.

“They have been hit onerous by the pandemic, however the survey reveals there are some vibrant spots about what the longer term holds,” mentioned Eileen Diskin, chief advertising officer at Comcast Enterprise. “We’re actually inspired by what we’re seeing.”

Comcast Enterprise is a subsidiary of Comcast, the guardian firm of NBC Common and CNBC.

The outcomes come amid a grim milestone for the virus, which has claimed more than 1 million lives globally together with greater than 200,000 deaths attributed to the U.S. Whereas hospitalizations are down sharply from their mid-summer surge, consultants fear that rising case counts might change that.

Nevertheless, the wheels of the home economic system, hit by its steepest one-quarter downturn in historical past, are starting to churn once more. GDP, which fell at an almost 32% tempo within the second quarter, is predicted to rebound by about the identical degree within the third quarter, elevating the potential that the 2020 recession could possibly be the shortest in U.S. historical past.

Housing numbers also have been strong and manufacturing has bounced again as effectively. Small companies have begun to reopen, and whereas struggling huge hits through the lockdown, are poised to bounce again, the survey confirmed.

Diskin attributed the rising optimism to technological enhancements adopted through the pandemic which have allowed smaller corporations to proceed to serve their buyer base.

“Small companies are extremely resilient and demonstrated a ton of agility throughout this time, having to rethinking the best way they do enterprise and serve their prospects,” she mentioned. “They’re actually targeted on serving their prospects and on methods to digitize their buyer expertise and buyer journey… We realized that small companies have had a whole lot of inertia in relation to know-how. This has been an accelerant.”

Another findings within the survey:

  • Of the companies that anticipate to see an enormous income drop, 49% say they’re much less ready for one more virus spike.
  • Three-quarters of companies suppose their operations will return to regular inside a yr, with 28% saying it’s going to take six to 12 months.
  • About 53% say they don’t have any staff working from house.

The Comcast Enterprise survey outcomes distinction considerably with a similar survey from Verizon Business launched Monday. That pattern discovered that 55% of small enterprise homeowners fear that social distancing will negatively impression their operations, whereas 67% reported declining gross sales, although that quantity was down from 78% in April.

“They have been up in opposition to unprecedented occasions. The vast majority of them have executed some type of technological innovation, and a whole lot of it’s linked to how they’re serving their prospects and variations in buyer conduct now,” Diskin mentioned. “The truth that they’ve discovered a option to work throughout the new mannequin … is fairly telling.”

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