Economic Rapid Response Team completes first survey of Niagara businesses

Posted by Niagara Region on Tuesday, April 14th, 2020

​Today, Niagara’s Economic Rapid Response Team (ERRT) released the results of a region-wide survey of Niagara businesses that gives an early picture of the local impact of COVID-19 on Niagara’s business community.

Over 2,600 businesses from all of Niagara’s municipalities completed the online survey, administered between March 20 and 30. The results represent over 66,000 employees from all sectors of Niagara’s economy, and provides a snapshot of the immediate effects of the first few weeks of the pandemic.

The survey results provide baseline data that will allow Niagara to track the ongoing impact of COVID-19. A follow-up survey, to be administered in the coming weeks, will provide a more fulsome picture of the long-term effects of the crisis.

This data will be invaluable as Niagara’s Economic Rapid Response Team works to design solutions to the unique needs Niagara businesses are facing due to COVID-19. In March, Niagara’s Regional Chair and Mayors announced the creation of the team, composed of economic development staff from Niagara Region, Fort Erie, Lincoln, Niagara Falls, Port Colborne, St. Catharines and Welland. The Economic Rapid Response Team will work beyond municipal boundaries to ensure that all local businesses receive timely, responsive support.

Key survey findings

- All sectors in Niagara have been negatively affected due to COVID-19, however the arts, entertainment, recreation; accommodation and food service; and retail trade sectors have seen a more pronounced effect
- The negative economic impact on Niagara increases the longer COVID-19 remains unresolved. Survey respondents estimated a loss of $1.4 billion if COVID-19 is not resolved within a 12-month period. The full impact on all Niagara businesses is expected to be higher.
- Businesses have taken steps to mitigate risk to their customers and staff by implementing new safety measures, enhanced cleaning and sanitizing, implementing social distancing rules and working remotely
- Many businesses unable to directly serve customers are also exploring new opportunities such as online business development and other new ways of serving customers

View the full report on the Niagara COVID-19 Business Impact Survey, and visit errt.niagararegion.ca​ for more updates.

Quotes

"The data from this survey provides a valuable snapshot of the immediate impact of COVID-19 on Niagara’s business community. While these preliminary results illustrate the gravity of the situation Niagara is facing, they also provide crucial insights that will allow Niagara to be nimble and responsive in supporting our businesses throughout this crisis." ~ Valerie Kuhns, Acting Director, Niagara Economic Development

 
 
 

News Archive

 
New brand rolls out for Niagara Region Waste …
Niagara Regions new waste collection trucks are rolling out with a new mess…
Niagara Region Wed Sep 23rd, 2020
Niagara Health teams working to accommodate i…
There has been a significant increase in the number of people seeking testi…
Niagara Health Mon Sep 21st, 2020
Ontario Limits the Size of Unmonitored and Pr…
Province Takes Decisive Action to Stop the Spread of COVID-19
Ontario Government Sun Sep 20th, 2020
BRIDGE CLOSURE | MAIN STREET BRIDGE
Bridge 19, the Main Street Bridge, will be closed to all vehicle traffic st…
Corporate Communications Fri Sep 18th, 2020
Regional Chair, mayors sign on to Coalition o…
Niagaras Regional Chair and mayors signaled their resolve to make Niagara a…
Niagara Region Fri Sep 18th, 2020
HWY 3/Main St. East from Ramey Ave. to HWY 14…
Starting Monday, Sept. 21, 2020, Niagara Region will be paving HWY3/Main St…
Corporate CommunicationsFri Sep 18th, 2020
Regional Council extends temporary face-cover…
Regional Council voted to extend Niagaras temporary face-covering by-law to…
Niagara Region Fri Sep 18th, 2020
Message to the community from Niagara Health …
Message to the community from Niagara Health President Lynn Guerriero on pr…
Niagara Health Thu Sep 17th, 2020
« Prev 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Next »