COVID-19 Impact on Wyoming Businesses

COVID-19 Impact on Wyoming Businesses

According to a statewide survey by the Wyoming Business Alliance, 88.5 percent of Wyoming businesses anticipate revenue loss due to the COVID-19 pandemic.

The Wyoming Business Alliance conducted the statewide survey, which closed on April 1, to capture data showing impacts to Wyoming business in light of the COVID 19. A total of 409 people participated in the survey, representing all counties and a wide variety of businesses, industries and nonprofits. Please click here to see all the results.

Here are some of the survey findings:

• 62.8 percent plan to keep their workforce the same in response to COVID-19 while 34.9 percent plan to decrease their workforce.

• Of those responding, plans to either increase or decrease their workforce, 32 percent expected to cut up to 5 employees.

• 88.3 percent have had to alter their normal plans in light of the COVID-19 pandemic

• 29 percent plan to close their business temporarily, though many were unsure of the actual length of time.

• Of those who are a restaurant or retail, 47.7 percent said they were doing curbside pick up while 34 percent offered other delivery options.

• 57.2 percent were still accepting cash

Findings on anticipated revenue loss

88.5 percent of respondents anticipate revenue loss

• 11.2 percent anticipated up to 10 percent revenue loss

• 17.4 percent up to 20 percent revenue loss

• 13.7 percent up to a 30 percent revenue loss

• 16.6 percent up to a 50 percent loss

• 9.8 percent up to a 75 percent revenue loss

• 11.3 percent up to a 90 percent revenue loss

• 4.2 percent expected a 100 revenue loss.

Resources considered helpful:

• 46.2 percent of respondents commented that Financial Assistance in the form of grants, loans, unemployment and tax relief would be helpful

• 9.9 percent wanted more information and communication

Demographics

• All counties were represented.

• 81.6 percent are located within city limits

• 81.6 percent of respondents have employees

Contact your local Wyoming Small Business Development Center (SBDC) Network advisor for no-cost confidential assistance during the COVID-19 (coronavirus) pandemic by clicking here.

 

For the latest COVID-19 (coronavirus) assistance, resources, and news, visit our COVID-19 Resources for Small Businesses page — updated regularly.