Technology industry respondents’ greatest concerns are evenly split at 50% each between economic
recovery time, employee issues, financial stability of customers and vendors, and cash flow. PPP loan
forgiveness is on the radar, but at only half the level of the top four concerns, at 25%.
Technology industry responses to a question asking how their business had changed included:
• “A change to digital platforms and less personal contact.”
• “Marketing and sales emphasis is being placed on particular service offerings.”
Transportation and Logistics
While transportation and logistics survey respondents haven’t identified a new market need, but they
are seeing increased demand in some specialized product lines while others show sharp declines. 50% of
respondents say their business has increased somewhat in the wake of COVID-19, while the other half
report business declines (and 25% say the decline is a sharp one).
Nearly all respondents report receiving a PPP loan (80%) with the remaining participants declining to
answer. 33% have loan forgiveness high on their list of concerns for the next 12 months, and the level of
loan forgiveness concern is slightly higher than in many other industries, at an average of 55 on a scale
of 1 to 100.
Morale is up at 25% of transportation and logistics industry respondents, and is stable at the other 75%.
No participants reported a decline in morale.
Looking down the road at the remaining quarters of 2020, the majority have a positive outlook. For Q2,
67% expect revenues to be consistent with the same period in 2019; the other 33% expect to see some
declines, though none expect those declines to be dramatic. In the third quarter, all respondents expect
to see some revenue growth compared to 2019. For Q4, the percentage expecting increases compared
to the prior year drops to 67%, with the remaining 33% expecting revenues to be about the same as in
2019.
All respondents are concerned about economic recovery time for their industry, with cash flow and PPP
loan forgiveness also on the list of concerns.
Wholesale/Distribution
Fully 45% of wholesale/distribution industry respondents say their revenue has declined somewhat
since the onset of the global pandemic, and another 23% say they’ve seen dramatic declines – overall,
68% of respondents report their business is down. The news isn’t all grim, however, as 19% report no
change and 10% say they’ve experienced a dramatic increase.
Supply chain interruptions have been a challenge for a number of respondents, several of whom note
the need to expand their sourcing to other areas of the globe to head off future disruptions. Others note