SAN ANTONIO, TEXAS
Update for Wednesday, March 25, 2020; 8:10 p.m.
San Antonio is two days into the Mayor’s Work Safe Order instructing all businesses to close and stop operations with allowable exceptions.Only businesses and organizations providing necessary products or services to the public can continue to operate. All other businesses shall close; employees to work from home.
According to the Perryman Group in Waco, TX,COVID-19 is expected to cost the U.S. economy $973 billion.Not only is the U.S. expected to lose a significant amount of money, 11 million jobs may also be lost.The Perryman Group says it looked at data from public and private areas hit hardest by the virus to come up with a plausible scenario for the ultimate effect on the economy.Central Texans should use the stimulus package for bills and other monthly expenses, they advise.
Financial assistance for impacted small business continues to make progress for the Alamo city. The San Antonio Hispanic Chamber of Commerce endorsed the Revitalize SA Plan – Economic Relief & Assistance City Council Request (CCR) authored by City of San Antonio Councilwoman Adriana Rocha Garcia. The Bexar County Commissioners approved a $5.65 million loan program to save small businesses in partnership with LiftFund which continues to absorb emergency capital for small businesses. Truist Financial Corporation announced a commitment of $1 million to LiftFund on Tuesday.
Numerous organizations are involved in hosting a variety of webinars on various business subject matter related to COVID-19.Family Services Association is offering businesses free limited Employee Assistance Program supportfor behavioral health and financial counseling, https://www.facebook.com/FamilyServiceSA/and Maestro Center hosted a “As a Business Owner, what steps do you need to take to Ensure Financial Stability through COVID-19,” in English and Spanish on Wednesday. A video of the recording:
A few webinars to keep on your radar for Thursday include:
- Thursday 1:00pm
CPS Energy: CPSE Live Conversation with Small Business Owner Janie Gonzalez, CEO, Webhead
- Thursday 2:30pm
Tech Talent Central San Antonio:Career transition resource workshop for impacted workers
Also, San Antonio Economic Development Foundation is intaking a Business Impact Survey: bit.ly/SanAntonioBREand Centro San Antoniois hosting aCovid-19 Downtown Conference Callevery Friday from 4:00 PM to 5:00 PM effective Fri 3/27/2020 until Mon 6/1/2020. Participants can Please dial- 210-547-8551.
News Clips (San Antonio, Business, COVID-19) Related for 3/25/20:
- Cutting It Close: Facing Loss of Income, San Antonio Salon Workers Keep Up Risky Work Amid Pandemic
- Bexar County Commissioners approve $5.65 million loan program to save small businesses
- Musicians struggle with cancellations because of COVID-19
- Texas Hospitals Brace for Coronavirus Surge with Uncertain Stocks of Protective Gear
The SAHCC would like to also share the following new article business research survey findings related to the impact of COVID-19:
COVID-19 Business Survey Findings Research (National):
- Transunion survey finds 22% Of Americans Have Been Targeted by Digital Fraud Related To COVID-19 and 23% increase in ecommerce transactions over the one-week period following the World Health Organization’s Mar. 11 declaration that the novel coronavirus outbreak was a pandemic.
- Lift and Access issued a transportation related survey, COVID-19 Altering Access Industry, which reported 75% of respondents said the crisis has either already affected revenue or they expect it will. More than half say their businesses have made layoffs, are considering layoffs, or have paused hiring.The survey found that 40% of respondents’ businesses have temporarily eliminated any kind of travel, both air and ground domestically and internationally, due to the spread of COVID-19
- National Federation of Independent Business survey: Small businesses see profound impact from COVID-19 reports 47% of respondents said they have not talked with their bank about financing needs, 30% are planning to do so soon. Another 13% have talked with their personal bank already, 9% with the SBA about their loan programs, and 1% with an online lender.
- Thryv, Inc. and America’s Small Business Development Centers (SBDC), survey revealed 69 percent of U.S. small businesses have already experienced a large drop in demand due to the coronavirus pandemic and 64 percent of the small businesses studied indicated employee hours have been already been cut.