In a survey conducted by the Owatonna Area Chamber of Commerce & Tourism during the week of April 27th, 46% of respondents said they are ‘unsure’ if their business will survive if their main issues continue.
What’s the main issue? Predictably the closure of many segments of the economy coupled with the stay at home order has dramatically impacted small independently owned businesses in Owatonna.
According to the survey results, other impacts to business include the uncertainty of the future of the economy, inability to meet with customers face to face and interdependence between businesses that are open or closed.
“The pure uncertainty of the situation, coupled with a continued extension of the stay at home order has created enormous challenges for small business,” said Nathan Dotson, Chair of the Owatonna Area Chamber of Commerce & Tourism Board of Directors and a small business owner.
68% of respondents from the Owatonna business community have applied for either Paycheck Protection Program or Economic Injury Disaster Loan programs through the federal government. 33% of those that applied have received funds as of the date they took the survey.
The responses indicate small businesses have already made changes and are planning for more with 57% of businesses indicating a change to business practices.
“The federal stimulus dollars are helpful, but what our businesses want is to reopen their stores,” said Dotson. “They are already making changes and can do it safely.”
Our Chamber has approximately 530 members that invest their resources, employee volunteerism and confidence in the Owatonna Area Chamber of Commerce & Tourism and the business community.