Poll find regional business leaders not expecting quick economic recovery after shutdown
Apr 16, 2020 12:45 pm
Larry Rulison is reporting for the Times Union a new Siena College Research Institute survey of upstate business leaders released April 16, found that 63 percent expect the state's economy will not rebound to pre-COVID-19 levels for at least another six months. Among business leaders in the Capital Region, 87 percent expect they will not achieve their 2020 revenue projections when the year is over. Eighty-three percent of Capital Region business leaders also expect to fall short of profit expectations this year. The survey was sponsored by the Business Council of New York State. “The results of this poll showed what many expected," Heather Briccetti, CEO of the Business Council said in a statement. "Businesses are hurting, especially smaller businesses and those in sectors whose operations have been most impacted by the reasonable state-imposed restrictions..." The majority of Capital Region business leaders reported they had not closed locations or laid off employees during the pandemic, despite the loss of revenue. On the positive side, Don Levy, the director of the Siena College Research Institute said, virtually everyone interviewed expect their own business to survive the crisis. Read the full story in the Times Union.