Your responses to our recent surveys have helped us create a clear picture of how businesses have been impacted over the past few weeks by the coronavirus pandemic.
By feeding the findings back to Government, we have been able to bring about real changes and supports to help businesses deal with this hugely difficult period. I want to thank you for taking the time to fill out the surveys, and to share some of the most interesting findings with you.
Our most recent survey – carried out last week – shows that 80% of firms have now seen a decline in revenue as a result of coronavirus. Almost 1 in 3 firms report that their revenues have dropped by more than 50%. The coronavirus is already having a tangible impact on jobs too. Around 1 in 5 firms say they have already had to lay off staff (either temporarily or permanently), and the immediate outlook is just as bleak, with 30% of firms anticipating staff cuts over the next three months.
More details on the survey findings can be found in our press release, which we issued to media this afternoon.
We have used the findings of our three recent Covid-19 surveys (conducted during the period between the 9th and 25th March) to provide you with an overview of how businesses have been increasingly impacted over the past three weeks. We’d like to share this analysis with you in our new report. Some of the key takeaways include:
- The proportion of firms declaring an impact on revenue has doubled to 80% over the past two weeks
- Almost one third of firms (30%) are now reporting a drop in revenue of over 50%, compared with just one in twenty firms (5%) at the start of the survey period
- 100% of respondents in the Accommodation and Food Service sector have seen revenue decline, while 83% have laid off staff
- Over four fifths of respondents (86%) report positive experiences of remote working so far
- Reduced revenue, reduced cash flow, and liquidity issues were the top three impacts of the pandemic cited by businesses.
You can read the report in full here.
Your continued feedback is key to ensuring that the business community is given the support it needs to allow it to come through this period. Please keep in touch with the Chamber team, who are here to help you.
Mary Rose Burke
CEO | Dublin Chamber