Jackson Hole survey reveals business impact of COVID-19

JACKSON, Wyo. (KIFI/KIDK) - A Jackson Hole Chamber of Commerce survey reflects how much a stay-at-home policy has affected the Teton County small business community.

200 CEO's and Directors completed the "State of Small Business" survey, focusing on the effects of COVID-19 on the state of their business. The chamber was sent out on April 6, one month after the Governor's office declared a State of Emergency and Public Health Emergency in Wyoming.

The majority of respondents were retail and lodging businesses, including vacation rental and property management companies.

According to the Chamber, the survey indicated 46.7% of businesses have laid off employees. The majority of those indicated they intend to rehire. About half of those surveyed have not had to lay off any employees.

53% indicated they did not foresee a need to lay off additional employees within the next 2 months.

Almost 31% estimated their 2020 revenues would be decreased by 26% to 49%. 26% inidcated it was too early to tell.

Most (72.1%) are applying for help under the federal Payment Protection Plan and 31.7% said they were applying for emergency injury disaster loans.

72.1% have not negotiated to lower or defer rent. 27% have negotiated rent in some way, but of those, only 20% said they had been granted relief.

The Chamber said it planned to update the survey each month of the COVID-19 emergency.