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2020-10-21 City Council Item No. 12.2 Menifee K.E.E.P. Business Walk Regular MEETING - Additional Meeting MaterialsSurvey Date of Closure Survey Conducted Hosted by First Closure March 17, 2020 April 3, 2020 City Re-Opening May 8, 2020 May 5, 2020 City Second Closure July 13, 2020 July 28, 2020 City K.E.E.P Busines Walk June 5, 2020 Chamber as part of MOU *Businesses were randomly selected from the City’s business license list to equate to approximately 10% of businesses in the City KEY FINDINGS •Nearly half (48%) of the businesses surveyed were small businesses (1-5 employees) •10% of the surveyed businesses employ 50 or more employees •Over three-quarters (78%) of the surveyed businesses plan on rehiring/bringing back 100% of their employees •Only a small percentage (7%) of the businesses plan on bringing back less than 25% of their staff *DISCLAIMER: Additional closures/restrictive guidelines can seriously impact businesses further and change data –as this was only a point in time RECOVERY *DISCLAIMER: Additional closures/restrictive guidelines can seriously impact businesses further and change data –as this was only a point in time •67%of businesses surveyed applied for some form of financial assistance •38% applied for the Employee Retention Tax Credit •8.9% of businesses also applied for the Economic Injury Disaster Loan (EIDL) •4.4% applied for the Small Business Administration (SBA) Debt Relief Program •60% of the businesses had received the requested funding; this does not include Menifee’s Small Business Grant FINANCIALS Funding Requested by Businesses <$5,000 $5k-$50k >$50,000 *DISCLAIMER: Additional closures/restrictive guidelines can seriously impact businesses further and change data –as this was only a point in time •Revised customer-facing procedures including shields •Increased use of websites and social media for marketing •Virtual online meetings and training •Social distancing precautions •Telecommuting •Personal protective equipment, protective masks, and new sanitization standards •Curbside pickup for eating establishments •Enhanced technology or software to help serve the public NEW TECHNOLOGY ENHANCEMENTS FROM MENIFEE BUSINESSES 50% of the surveyed businesses implemented new technology/guidelines during the pandemic that will become part of their permanent business plan moving forward and majority used funding provided from COVID-19, that allowed them to respond to COVID-19 to survive. This Photo by Unknown Author is licensed under CC BY-NC These additional topics will be utilized in additional workshops or planning to assist our business community HOW WE CAN ASSIST: •MARKETING ASSISTANCE •FINANCIAL ASSISTANCE •BUSINESS PLANS •SOCIAL MEDIA ASSISTANCE If there was something businesses wished they’d known before COVID-19, that would have been beneficial: • Stocking up on PPE and cleaning supplies • Additional savings, reserves, and capital resources • Health and safety guidelines • Contingency planning • More diverse business plan QUESTIONS?Thank you.