By DAVID DUPONT
BG Independent News
The Bowling Green business community has its own COVID-19 long haulers.
A survey of how the pandemic has impacted local commerce reported that 21 percent of respondents believe it will take them more than a year for their businesses to fully recover.
The survey, sponsored by the Bowling Green Chamber of Commerce and Bowling Green Economic Development, and conducted by the BGSU Center for Regional Development, was a follow-up to one conducted earlier in the pandemic.
Deminique Heiks, Economic Development Program Coordinator, presented the findings. (Click to watch video.)
Heiks said that the point of the survey was not just to measure the impact of the pandemic on business but also to get an idea of how the Chamber could assist in the recovery efforts.
The largest sectors reporting were: manufacturing, industrial services and supplies; finance and insurance; restaurant, food, and beverage; and shopping and specialty retailing. These represent about half the respondents.
The respondents reported laying off or furloughing 435 employees, about 14 percent of their workforce. Of those, over half, 56 percent, have returned to work. And 49 percent of respondents had employees working from home.
However, some respondents reported a lack of labor as a hindrance during the pandemic. This was a recurring theme through the survey, Heiks said, with 35 percent of respondents ranking it as their most pressing concern. It was the third most cited pressing concern after employee well-being and concerns about finances and cash flow.
About 64 percent reported a decrease in revenue during the pandemic. Three companies, 3.6 percent, reported decreases of more than 80 percent, while another 6 percent reported a decline of 60 to 80 percent. Almost half the firms reported losses under 40 percent with another 14, 16.7 percent, reporting an increase in revenues.
When asked about the fourth quarter of 2020, 27 percent said the biggest hindrance to business was the lack of BGSU students and shipping delays.
Having free parking in the downtown was cited as the best policy implemented by the city to help business by 42 percent of respondents while another 18 percent cited reduced parking requirements. Another 16 percent said allowing outdoor dining helped.
Of those responding, 71 percent applied for assistance from some kind of government program, federal, state, or local, and almost all received help.
Less than half the respondents answered the question on what the city could do to help businesses to reopen. Ten said the city should provide support for reopening by supporting vaccination, and four said through advertising. Advertising, marketing, and promotion were the top ways for the Chamber and Bowling Green Economic Development to support businesses, a dozen respondents said.
The city also offers a revolving loan fund.
