As a research professional and business leader I find myself seeking out statistics at a city, county, state, regional, and national level. I’m looking for facts, without emotion, to help guide my reality and the direction of business decisions. While I’m appreciating the benefits of working from home, time with my daughter and new puppy, and a less hectic after school/work schedule; I’m concerned about where the economy is headed and the recovery time.
I know that I’m not alone. We are all experiencing similar challenges during this uncertain time. The coronavirus outbreak is a human tragedy with very real personal, business, and economic consequences. Insight into how others are reacting, overcoming current challenges, and planning for tomorrow can provide not only comfort, but a shared community of learning and preparation. This desire for unemotional insights into the perceptions and decisions being made by business leaders, fueled the creation of the Clear Seas Research Industry Perspective on the Challenges of Today research tracking study.
The results for the third wave of this research have just been released. Although business decision makers are concerned about the virus and the economy, we are seeing that they are taking steps to try and minimize the overall business impact. Roughly half of all survey participants report that their active and planned business is still on schedule. We also discovered that three in four participants work for businesses classified as “essential”; that one in three qualify and are applying for the small business stimulus loan offered through the CARES Act. Participating business professionals are doing what they can to take advantage of this time to prepare for the future; implementing new business processes focused on employee health and safety, as well as improving their personal skill sets.
These findings speak to the resilience, tenacity, optimism, and true grit of US business leaders. Although these are scary times, business leaders are adapting, finding creative ways to keep moving forward, and are focused on rising above the impact of the coronavirus, without sacrificing the health and safety of employees and/or customers. It’s a time to focus on getting things done and pivoting to be prepared for what the future holds.