MadREP & Regional Partners Launch Third Installment of Statewide COVID-19 Business Impact Survey
The Madison Region Economic Partnership (MadREP) continues its partnership with the Wisconsin Economic Development Corporation (WEDC),Wisconsin’s eight other regional economic development organizations (REDOs) and UW-Oshkosh to create and distribute a data collection tool to businesses in the Madison Region who are experiencing economic hardship due to the COVID-19 pandemic.
The third observation period of the statewide survey, measuring the economic impact of the COVID-19 pandemic on Wisconsin businesses, is underway. The survey is open – for both past participants and new participants – until June 13.
Those businesses who took part in the initial observation period should go to http://uwo.sh/covid-19-econ-june to share their current situation. Interested businesses who previously did not participate are encouraged to do so at http://uwosh.edu/ccrs/covid-19-survey.
According to MadREP President Paul Jadin, the results of this installment of the survey will continue to inform state and federal responses to the pandemic. “It’s imperative we continue to experience high participation from Wisconsin businesses, but even more important, we want to see responses from all counties throughout the state. We want to be sure our future efforts offer the most appropriate support for all businesses, not just those in major population centers.”
Survey results from businesses responding to the second sampling period (May 4-17, 2020) showed 9,816 employees lost income due to layoffs and furloughs. That number is in addition to the 8,795 reported for March.
Additionally, while 74 percent were open or confident they would be able to reopen soon, 14.85 percent of businesses surveyed did not anticipate being able to reopen without assistance. 1,151 businesses responded to both the April and May surveys, representing a retention rate of 47.1 percent period over period. An additional 235 new businesses responded to the May survey. Data is reported with an error rate of plus or minus 3 percent based on a respondent pool of 452,000 active Wisconsin businesses. The results are available at https://uwosh.edu/ccrs/covid-19-survey/.
For Further Information:Jessica Reilly