How to reopen safely and keep from running out of money are the chief concerns of business leaders and executives, according to a new survey from Inc.
About 55% of those polled in Inc. magazine’s first monthly small business survey say their top priority when reopening is securing the health and safety of employees. Meanwhile, another 90% say their business has seen a negative or significantly negative effect as a result of the coronavirus pandemic. Around 28% of those surveyed say they have already pivoted their businesses.
Roughly one-third of those surveyed estimate they would need more than $150,000 in capital to weather the country’s current conditions. One-quarter of those surveyed say they’d need between $10,000 and $49,999 to withstand the ongoing effects of the crisis.
Inc.’s survey, which went out to subscribers of Inc.’s This Morning newsletter and registered feedback from 226 founders, CEOs, owners, and other company executives. The survey, which took place between April 28 and May 4, questioned how companies are coping with the pandemic, what measures they’re implementing to stay afloat, and whether they’ve applied for government assistance. Read the full results.
