The BC Chamber of Commerce, Greater Vancouver Board of Trade and the Business Council of British Columbia, with assistance from Mustel Group, have collaborated with business associations across the province to collect and provide information to government, from businesses of all sizes, sectors and regions across British Columbia. Information gathered will inform a holistic approach between government and society in acting on the COVID-19 pandemic.
This report provides the key findings from the fourth survey taken by 1,401 business leaders from July 6th to 13th, 2020.
Impacts on Businesses
- Impacts on businesses from the COVID-19 pandemic are similar to those reported in previous Pulse Check surveys, but now we see a higher proportion than in the past, 40%, also report increasing operating costs, likely due to reopening or expanding operations. This level increases to over 50% of medium and large business.
- The most common impact continues to be decreased sales volume, reported by 75% of businesses (no change from previous survey). And again, over four-in-ten report reducing staff hours (45% no change from last survey), laying off employees (42% down slightly from 48% in the last survey), and/or closing temporarily (36% down from 42%).
- Between 33% to 36% have had capital projects, contracts/tenders and/or marketing projects either cancelled or deferred (similar to previous surveys).
- On the positive side, 36% (up from 31%) have increased their digital or e-commerce presence, and small groups have introduced new products or services (15%), advanced new marketing projects (10%) or advanced new research and development (6%).