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(6/15) Paychex Study Finds 63% of Business Owners Feel the Worst of the COVID-19 Pandemic Is Behind Them

By Joanne Kaldy / June 15, 2020

According to a new survey, many businesses believe that COVID-19 is mostly in their rear view mirror:

  • 46% of business owners report they are fully open and operational.
  • 42% are open on a limited basis.
  • 12% are closed but plan to reopen.
  • Of businesses that are closed, half plan to open by July and 25% will open as soon as they are allowed.
  • 45% of respondents think it will take three or fewer months for their businesses to return to pre-COVID norms.
  • 57% think it will take seven or more months for the U.S. economy to return to normal.
  • 19% of businesses say they’ve already returned to pre-COVID revenues.

While reopening their business is a top priority for many businesses, other focuses include:

  • Maintaining customer relationships (23%).
  • Managing business as usual (21%)
  • Reducing expenses (14%).

Read the full article.

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Categories: HR Industry Brief /

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Editor: Joanne Kaldy

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