A recent Paychex survey of business owners revealed that 84% are “somewhat or very concerned” about a possible second wave of infection.
The report states 46% of businesses in the US are fully open and operational as 63% feel the worst the COVID-19 impact has passed. However, 42% of the businesses are open at a limited capacity and 12% of the closed businesses are planning to reopen.
Of those polled, 44% have applied for a Paycheck Protection Program (PPP) loan, and 58% reported receiving payment for it. Further, 45% of business owners believe it will take three or fewer months for businesses to return pre-COVID-19 norms.
The top priorities for businesses were maintaining customer relationships (23%) and managing business as usual (21%). 33% of businesses are worried about not having enough customer demand on reopening.
[3 minute read]