BUFFALO, N.Y. (WKBW) — The financial uncertainty created by COVID-19 is the primary concern for companies, small and enormous within the Buffalo-Niagara area. This in response to a survey of its members by the Buffalo Niagara Partnership.
In keeping with our annual Advocacy & Member Survey, two-thirds of respondents discover NYS to be much less enterprise pleasant as in comparison with the earlier yr.
What are different prime considerations for the area’s employers?
— Buffalo Niagara Partnership (@BNPartnership) December 1, 2020
“When are companies going to be at full pace? When are we going to have the ability to freely raise capability on restrictions and all of these issues?” These are a few of the questions Dottie Gallagher, CEO of Buffalo Niagara Partnership says enterprise homeowners are involved about.
The primary concern from enterprise homeowners is the long-term financial influence from COVID-19, adopted by market situations and rules.
Gallagher says that’s an enormous shift from the earlier end-of-year surveys when workforce was prime of thoughts.
“To see that drop to the underside of the checklist have the long-term financial influence of COVID-19 bounce to the highest, we’ve by no means seen that sort of a shift,” she mentioned. “They’re involved about unemployment, we nonetheless don’t have a deal with on the everlasting job loss,” she mentioned.
The Division of Labor says the Buffalo-Niagara area misplaced some 40,000 jobs from October 2019 to October of this yr.
Katie Krawczyk is likely one of the 100 members who responded to the partnership’s survey. She is the CEO and Associate of 19 Concepts, a neighborhood advertising and communications agency.
“We had been additionally impacted by the monetary and financial downturn that occurred,” she mentioned.
Krawczyk is likely one of the 44% who responded to the survey, saying they’ve seen a lower in gross sales and income as a direct results of COVID-19. Krawczyk believes the long-term financial results will work each methods and she or he does see the positives.
“I feel we’ve been in a position to modify how we work,” she mentioned. “We’re extra environment friendly with our staff and our shoppers.”
Krawczyk says her enterprise is pondering long-term about extra strategic planning.
The survey additionally discovered almost 50% of individuals plan to have workers working remotely or a part of the week shifting into 2021.
66% of all surveyed mentioned they suppose New York is changing into much less enterprise pleasant.
53% mentioned they might add new workers, however solely 18% mentioned they might broaden their present location.