FLORIDA SMALL BUSINESS DEVELOPMENT CENTER AT IRSC
SURVEY TO AID IN UNDERSTANDING THE
PANDEMIC’S IMPACT ON SMALL BUSINESSES
18
TCBusiness.com
The Florida Small Business Development
Center Network, the Florida Chamber
Foundation, CareerSource Florida
and the University of West Florida Haas
Center released new data from the second
phase of a research study to understand
the impact of COVID-19 on the state’s
small businesses as the pandemic and
subsequent economic impacts surpassed
the one-year mark.
The Small Business COVID Impact Survey
2.0 garnered more than 1,100 responses.
The survey served as a follow-up to a
survey conducted last year to assess the
impact of COVID-19 on the state’s small
businesses. In last year’s study, 86% of respondents
reported a loss in revenue and
40% reported closing their doors permanently
due to the pandemic.
“COVID-19 permeated every stage of
the business life cycle and regional business
operators will continue to experience
and face a challenging marketplace for
the foreseeable future,” said Tom Kindred
Jr., regional director of Florida SBDC at
Indian River State College. “Small businesses
are the backbone of our state and
regional economy, and this study serves as
an important tool to assist Treasure Coast
organizations better understand their continued
needs and future outlook to better
support their recovery.”
Respondents reported that COVID
has left serious negative effects across
their businesses, however, overall most
reported improving metrics and a more
optimistic outlook.
Many small businesses indicated they
would need to increase sales and marketing,
obtain financial assistance and hire
new employees in the next six months.
Forty-six percent of respondents were
moderately or extremely concerned about
acquiring capital and, of those who applied
for capital, 40% indicated accessing
relief capital was harder than anticipated.
“Understanding the continued impacts
on small businesses will help policymakers
strategize recovery measures vital to
encouraging job creation and growth,”
said Dr. Jerry Parrish, chief economist and
director of research for the Florida Chamber
Foundation.
USE OF INDEPENDENTS
The second phase of the survey also
inquired about the utilization of independent
gig workers and businesses’ shares of
online sales.
The majority of businesses indicated
that independent workers could only support
10 percent or less of their business
activities. Respondents indicated training
and quality assurance and lack of oversight
as the top concerns in leveraging
independent workers.
“Gaining a deeper understanding of
the long-term employment impacts of
the COVID-19 pandemic will help the
CareerSource Florida network anticipate
both ongoing and evolving needs of job
seekers and employers, and enhance our
ability to connect them with valuable resources,”
said Michelle Dennard, president
and CEO of CareerSource Florida. “Career-
Source Florida is grateful to the Florida
SBDC Network for ensuring education,
economic development, and workforce
development partners have timely data to
inform policy and ensure the right tools
are available to support small businesses.”
Nearly a third of respondents represented
businesses in operation for five years
or less. While varied across industries,
the largest groups of respondents were
among professional, science, and technology
Upon returning home to the Treasure
Coast from the University of Florida, Tom
served as the first executive director
of Fort Pierce Main Street, a nonprofit
downtown redevelopment organization,
creating and establishing multiple
special events including Friday Fest, an
iconic event that has endured for 30
years. Following his civic work, he spent
25 years as a private business owner
and operator, directing, coordinating
and managing sales of more than
$148 million. After earning his Master
of Business Administration degree, he
began instructing business courses
at Indian River State College’s School
of Business. Kindred now serves the
community as the regional director for
the Florida SBDC at Indian River State
College, sharing his real-world business
experience with like-minded business
owners and entrepreneurs.
fields; as well as retail, accommodation,
and food services.
“Our mission is to support the state
through market research and data analysis,”
said Nicole Gislason, executive director
of the University of West Florida Haas Center.
“This survey represents an important
opportunity to depict the current state of
small businesses and ensure their voices
do not fade.”
Please visit https://floridasbdc.org/
disaster/covid-impact-survey/phase-2-
results/ to learn more and view the survey
findings. v
BY NANCY DAHLBERG
“OUR MISSION IS TO SUPPORT
THE STATE THROUGH MARKET
RESEARCH AND DATA ANALYSIS.
THIS SURVEY REPRESENTS AN
IMPORTANT OPPORTUNITY TO
DEPICT THE CURRENT STATE OF
SMALL BUSINESSES AND ENSURE
THEIR VOICES DO NOT FADE.”
— Nicole Gislason,
executive director of the
University of West Florida
Haas Center
/TCBusiness.com