I was recently asked to analyze the results of an online questionnaire that was distributed to small businesses in Rhinebeck, New York, over the second half of May 2020. Created by the local civic group Rhinebeck Responds, the questionnaire asked businesses about various impacts related to the coronavirus pandemic and Gov. Andrew Cuomo’s “New York State on PAUSE” executive order, which on March 22 required all non-essential businesses to close.

Here is the Rhinebeck Responds press release, published on June 15.
Here is my four-page survey analysis memo.

From the press release, key findings of the survey include:

  • Steep Drop in Sales and Revenue: Business income was down 50% in March, 70% in April, and 65% in May, compared to the same months in 2019.
  • Increased Debt: During the pandemic, 59% of businesses incurred up to $10,000 in unpaid bills and/or debt; another 34% have acquired between $10,000 and $50,000 in new debt.
  • 8 in 10 Expect Recovery Will Take One to Two Years: 42% estimated that business recovery will take about one year, another 40% think recovery will take up to two years.
  • Two-thirds Received Federal Support: 67% of businesses responding to the survey secured federal PPP (Payroll Protection Program) assistance.