Hello Chamber professionals! I hope you had a rewarding Tuesday as we make progress through these tough weeks. Here are 5 take-aways from the day for Chamber leaders:
Attention Southern Indiana Chamber Leaders: In partnership with numerous chambers of commerce and regional organizations, the Federal Reserve Bank of St. Louis is conducting a confidential assessment of business leaders in the seven-state region of the Eighth Federal Reserve District. This link will show you which of the 24 counties in Southern Indiana are covered by this survey and it's important we have businesses participate because results will directly assist monetary policymakers and regional leaders in making decisions that impact the employment / financial situations of businesses in this region. The survey for the Southern Indiana counties will close at noon on Friday. If Southern Indiana Chambers could push out the linkthis week, particularly to companies with 50-500 employees, that would be greatly appreciated. ICEA has a call scheduled with the Federal Reserve in Chicago to possibly help launch a similar survey for the remainder of the state.
Business Wellness Check: The staff for the LaPorte Economic Advancement Partnership (LEAP) released this week a brief surveyin an effort to keep a pulse on the business community with intent to share the cumulative confidential report with community stakeholders. This is an excellent way to get much needed feedback from your businesses as you work with community leaders in coordinating a plan for re-opening when that time is here.
Constant Contact Launches Small Business Success Kit: Small business owners have always had to adapt quickly. But the leaders at Constant Contact know there's no clear way to navigate the COVID-19 crisis. Constant Contact is here to offer a small business support kitwith guidance, new ways to boost business, and inspiration from other small business owners to help your members figure out what to do next. This is a great resource to share with your members.
43% of businesses surveyed are temporarily closed.
Employee counts are down by an average of 40% compared to January.
The average busines has more than $10,000 in monthly expenses and less than one month of cash reserves.
Timing Projection for Peak COVID Impact:If you have not seen this interactive website for health data, this is an interesting set of graphs for seeing estimated timing of peak COVID impact. You will see at the top of the webpage the ability to search by state to get that state's projections. Data is updated daily and can assist your Chamber staff team in monitoring where we are with the peak and flattening the curve.