Only a third of CEOs expect the New York State economy to return to pre-virus levels of revenue and employment within the next six months. That’s according to a special Upstate New York Business Leader COVID-19 Survey from Siena College Research Institute (SCRI), sponsored by the Business Council of New York State, Inc.
Similarly, while only five percent have not suffered due to the virus and 35 percent think that their business will recover within six months, a quarter say by the end of 2020 and 35 percent don’t think their business will return to pre-virus levels until 2021.
Among the other findings:
- Majority of Upstate CEOs Say Return to Pre-Virus Economy Will Take Longer than 6 Months
- By 57-35%, CEOs Say NYS Should Focus on Public Health NOT Relaxing Restrictions for May 1
- Nearly 90% Downgrading 2020 Revenue & Profit Expectations; 40% Have Laid off Workers; 58% Cutting Back on Buying Equipment
- 89% Say will be in Business a Year from Today; 61% Confident in Fed Response; 72% Plan on SBA Paycheck Program