COVID-19 Trends+Analysis

Industry Impact of COVID-19

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Mid-March, Ratchet+Wrench sent out a survey to its readers to see how business was being impacted by COVID-19. 909 people from across the nation responded. Here’s what they had to say about how business has changed since the pandemic. 

What has been the financial impact on your business?

    Positive: 2.31%

    Negative: 88.44%

    No Impact: 9.25% 

Have you altered business in light of what’s going on? 

    No: 22%

    Yes: 78%

Have you seen a change in the amount of customers coming in? 

Increase: 1%

Decrease: 94%

No change: 5%

There is some good news, however. Although the impact has been felt by the majority of the popularly, over 3/4th of readers remain optimistic. 

Given the coronavirus situation, do you remain confident about the future of your business?

Yes: 76%

No: 24% 

For tools, resources and news about the coronavirus, follow Ratchet+Wrench’s coverage at ratchetandwrench.com/COVID-19 

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