Barnes Dennig Business Barometer Key Findings
UNDERSTANDING THE IMPACT OF COVID-19
INTRODUCTION
To better understand the COVID-19 global pandemic impact across various industries, we surveyed
regional business and organization leaders across multiple industries, including construction, healthcare,
manufacturing, not-for-profit, real estate, services, technology, transportation and logistics, and
wholesale/distribution. More than 400 individuals completed the survey. In addition to this overall
summary of key findings, we’ve broken out results by industry for comparison – visit the Barnes Dennig
website for each industry’s results.
METHODOLOGY
We surveyed 400 business and organizational leaders, asking 9 questions about business growth or
decline, revenue forecasting for the remaining quarters of the year compared to 2019 levels, PPP loans,
and their top concerns for the coming 12 months. Questions included multiple choice, sliding scale,
matrix, and open-text field questions.
Participants completed the survey online, and were given the opportunity to make additional comments
on their concerns, how they’ve changed their operations, and new market needs they’ve identified.
Responses are confidential.
OVERALL FINDINGS
We uncovered some universal themes, including concerns about economic recovery time for each
industry and the financial stability of customers and vendors. While PPP loan forgiveness is on the radar
for many, the overall level of concern is moderate. The majority report that employee issues are high on
their list of concerns over the next 12 months, including employee well-being, health and safety issues,
and the looming specter of layoffs, furloughs, and recall plans. Many also cited concerns about a second
wave of infections and the potential consequences for businesses and organizations across the spectrum
should that occur.
A wide range of financial impact also emerged, with some industries experiencing moderate to dramatic
demand increases while others are seeing crushing declines and closures. Some organizations have
identified new market needs and moved rapidly to meet them, leading to some of the business growth
our respondents reported. The majority have shifted the way they conduct business, moving in-person
and in-office work to virtual communications, including video calls, increased e-mailing, webinars, and
virtual service delivery.