Most SLO businesses financially impacted by shelter orders

April 30, 2020

Nearly 90 percent of San Luis Obispo businesses have lost revenue during the coronavirus pandemic, while 37 percent have seen more than three-quarters decreases in revenue, according to a SLO Chamber of Commerce survey. [Tribune]

The San Luis Obispo Chamber of Commerce polled member businesses on a variety of matters pertaining to their current financial struggles. More than 230 businesses responded to the survey.

About 73 percent of the survey responses came from businesses based in the city of San Luis Obispo, while the other 27 percent came from businesses scattered throughout SLO County. Respondents were from industries including home building, insurance, fitness, transportation, real estate and food and beverage.

Of local businesses participating in the survey, 32 percent said they have closed temporarily. Approximately 27 percent of respondents said they have laid off one employee or more, while 24 percent of businesses reported furloughing at least one worker.

Approximately 42 percent of companies that rent their business space said they have not been able to pay their rent in full. Likewise, about 40 percent of businesses reported a need for penalty-free extensions on expenses such as rent, utilities, supplies and inventory.

Nearly 80 percent of businesses surveyed said revenue and cash flow is the area in which they have the greatest need for assistance.

Fifty-two percent of businesses said they have canceled events.

A majority of participants in the survey are also struggling to obtain business loans from the federal government. More than 57 percent have not yet received a response to their stimulus business loan applications.

Of survey participants, 181 businesses have applied for financial assistance through the Economic Injury Disaster Loan Program or Paycheck Protection Program, two components of the federal stimulus package that make business loans available.

In similar fashion to the SLO Chamber of Commerce, The South County Chambers of Commerce is also conducting a survey of businesses. More than 100 businesses have already responded to it, South County Chambers of Commerce CEO Jocelyn Brennan told the Tribune.

Thus far, less than 5 percent of the businesses that have responded to the South County survey said they have received federal stimulus business loans.


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Niles Q

In the end, I think it’ll be 100% of businesses that take a big financial hit.

I also predict that at least 1,000 business in SLO County will never reopen again when all this Pandemic business is finally over.

I hear the bowling alley in Paso Robles isn’t going to reopen, and is looking for a buyer.

The ironic thing is that we’ve done this to ourselves.


Jorge Estrada

We have government jobs and tourism jobs, only one group has lost their jobs and the others get paid to stay home. This is it and the cost to get back to normal will require overtime for the not tourism jobs. Kiss your taxes hello.


Rambunctious

DUH……


Boldguy

As the article points out, these are trying times!

The pain of the business community is well founded. and owners are usually in better shape to handle things like this.

I was talking to a woman yesterday, single mom, two kids, no income, Snideley Whiplash for her land lord, so many people put in such terrible positions, it’s heart wrenching:(


IDBOUND

Boldguy …the single mother is or will be receiving 700.00 to 800.00 in food stamps plus close to 1100.00 in cash benefits ..there is 1300 job openings in SLO county


IDBOUND

I’ve owned businesses for over 30 years .The shutdown hasn’t effected me in any negative way .I have saved H undereds of dollars on fuel Cheapest I paid on west coast 1.61 and its .91 a gallon in Wisconsin ,the highways are not congested , the other businesses I deal with no lines etc etc .Business owners who refuse to modify their business practices will always eventually die .This is always a slow time of year people tend to spend less until they receive their tax refunds .If need be business owners diversify and start using internet to their financial benefit but internet can’t do manual labor .Last time I checked SLO county has 1300 job openings on Indeed .com .I’ve never been on unemployment or any other money program .


aye-caramba

Open, open, open, open….. this is over.

And to those who are scared of the dark shadows out there, hide, hide, hide, hide


Rich in MB

The prochoice position is to open the Economy and let individuals decide to either self-isolate or get back to earning a living for their family and pay the taxes that supports the local economy.