BUSINESS IMPLICATIONS REPORT
COVID-19 BUSINESS IMPLICATIONS SURVEY FINDINGS
Together, Aurora Regional Chamber of Commerce, along with Invest Aurora, are proud to announce the launch of the COVID-19 Business Implications Survey Report. Read the press release.
The COVID-19 Business Implications Survey Report is the second COVID-19 survey from Aurora Regional Chamber of Commerce and Invest Aurora. Part of a series of surveys and reports aimed at measuring the impact and implications of COVID-19 on businesses across the Aurora region, the COVID-19 Business Implications Survey Report provides a close look at the data from 98 survey responses collected between September 8, 2020 and September 21, 2020.
KEY SURVEY REPORT FINDINGS
The data collected from the survey enabled the Aurora Regional Chamber of Commerce and Invest Aurora to determine a number of related trends that clearly demonstrate the near- and longer-term implications of COVID-19 business decisions on business operations.
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- Shipping and supply chain delays are negatively affecting local businesses: The delay in time-to-ship and problems with supply chains, while an ongoing issue nationally as a result of COVID-19, is also affecting local businesses. Nearly half of respondents (47 percent) have experienced issues with their supply chain, such as receiving supplies and shipping orders, while approximately one-third (30 percent) have also experienced significant delivery delays with the mail delivery that have had a negative effect on their business.
- The unprecedented school/childcare situation is affecting the majority of employees and businesses: According to the findings, 76 percent of respondents are experiencing issues as result of the school/childcare uncertainty. This included a lack of employee productivity (42 percent), expansion of work hours outside of traditional office hours (32 percent), increase of call-offs or unpredictable schedules (30 percent), and short-staffed or difficulty staffing (25 percent).
- Telecommuting/remote working is here to stay: For employees working remotely/telecommuting, the survey revealed that businesses are offering remote work for the long run and changing their office space footprint all to address the challenges they are facing today. Nearly one-third (28 percent) of respondents stated they would not be returning until Q2 2021 and 22 percent have elected to have employees remain entirely remote. By comparison, in our first survey, nearly a fifth of survey respondents (18 percent) were unsure as to their future work state and would closely monitor the situation while two-thirds of businesses (63 percent) plan to review flexible work options, including remote working.
- Due to COVID-19, businesses are trying anything and everything, including modifying operating structures: The finding’s reveal that a majority (57 percent) of business and professional service respondents are planning on permanently altering their business model to include telecommuting options. Nearly 38 percent are considering a decrease in services, 36 percent are expanding to a new customer base, 29 percent are considering new product lines/COVID-19-specific products, and nearly 28% are considering an increase in services.
COMPANION RESOURCES
The COVID-19 Business Implications Survey Report builds upon the findings from the first survey report, the Business Impact of COVID-19 report, brought to you by Waubonsee Community College. That report analyzed the data from 524 responses from businesses of all sizes, operation tenure and across all industry sectors on challenges they faced as they looked to reopen and operate in the age of COVID-19. An additional companion piece, the Regional Reopening Roadmap, also brought to you by Waubonsee Community College, is a robust yet practical resource designed to help businesses plan for and maintain safe working spaces and conditions, design and monitor workplace operations to create flexibility, and maintain safety for employees and customers.
The COVID-19 Business Implications Survey Report builds upon the findings from the first survey report, the Business Impact of COVID-19 report, brought to you by Waubonsee Community College. That report analyzed the data from 524 responses from businesses of all sizes, operation tenure and across all industry sectors on challenges they faced as they looked to reopen and operate in the age of COVID-19. An additional companion piece, the Regional Reopening Roadmap, also brought to you by Waubonsee Community College, is a robust yet practical resource designed to help businesses plan for and maintain safe working spaces and conditions, design and monitor workplace operations to create flexibility, and maintain safety for employees and customers.