Drogheda Chamber back national survey
DROGHEDA Chamber President, Shona McManus and the Chamber team are delighted to support the recent
Chambers Ireland Nationwide Business Survey.
The survey represents the impact COVID-19 Pandemic has had on businesses during this challenging time.
The headline results are:
Revenue:
•84% of businesses expect revenue to decline by in excess of 25% in the next three months, which is up from 73% in our last survey published on the 24 March.
•Approximately 25% of businesses expect their revenue to decline by more than 90% over the next 3 months
•Smaller firms are more concerned about loss of revenue and are more likely to expect a 100% reduction in revenue Closures:
•42% of businesses have closed entirely, and 30% of businesses having closed the public facing offices and are now working from home
•Of those that have closed, most expect to be closed for 12 weeks Staffing:
•47% of businesses have laid off staff, with over half of those laying off in excess of 30% of staff
•20% of all businesses have laid off their entire staff Commercial Rates
•76% of businesses owners/operators believe that the 2-month deferral of Commercial Rates payments will not be enough to have any meaningful impact on their business
•Most believe that it would need to be a six-month holiday to be of use, with a significant minority believing that the extension would need to be for 12 months
Next Steps/Economic Interventions:
•99% of respondents believe that there will be a need for a post - COVID-19 economic stimulus package
•95% of respondents believe that there is a need for liquidity grants to businesses
•96% of respondents believe that the measures that have already been introduced will need to have their timelines extended.