Clear Seas Research gives industry outlook on business challenges during pandemic
Clear Seas Research (a BNP Media Company) has released a report detailing the challenges that industry is facing today. The survey included readers of all of BNP publications, including The National Provisioner and Independent Processor. The survey was taken between April 2 and April 6.
“Business leaders globally are in uncharted waters as together we face the challenges surrounding the recent pandemic and resulting economic impact. Insight into how others are reacting, overcoming current challenges, and planning for tomorrow can provide us with not only comfort, but a shared community of learning and preparation,” the company said in a statement.
Respondents were asked to list each area of concern on a scale of 1 to 10. “Current Economy” was the top concern, with an average rate of 8.37 – up from 8.03 from the survey taken between March 24-26. . “Friends/family becoming infected by COVID-19” was the next-highest concern (8.01, up from 7.52), followed by “Business stability for the next 12 months” (7.86), “Achieving business goals over next three months” (7.80) and “Achieving business goals over the next six months” (7.59).
Survey respondents reported that 52 percent of active business remained on schedule, while 31 percent was delayed and 17 percent was canceled. They also noted a 68 percent decline in new business development activity, while 14 percent noted no change and 18 percent an increase. Sixty-eight percent reported a decrease in business spending, which could include equipment, production, technology or service costs.
More than half of respondents — 59 percent — reported their 2020 marketing budget had been reduced, and another 29 percent indicated no change. Over the next three months, 25 percent of people said they anticipated laying off some employees, 17 percent anticipated temporarily suspending employees without pay, and 16 percent anticipated temporarily suspending employees with pay. Thirty percent did not anticipate any workforce changes within the next three months.
For more information about the survey, visit https://www.clearseasresearch.com/product/food-beverage-manufacturing-ipct-report-fieldwork-april-2-6-2020/.
Source: Clear Seas Research
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