Published Aug 13, 2020 by A.J. Mistretta
Twenty-one percent of companies responding to the Partnership’s latest Business Barometer Survey say their outlook is better this week than it was last week. About 10% of respondents say their outlook is worse this week compared with a week ago.
Of those who said their outlook is improving, about half said they have seen an increase in revenue compared with last week, and just over half say they are considering increasing or moving their business online.
Overall, about 22% of respondents said their revenues have declined since their last billing cycle. Nearly 30% said their revenues have increased since the last billing cycle and another 36% report revenue remains the same.
Thirty-three percent of responding companies say their operations have been severely impacted by the pandemic while another 24% report a moderate impact on operations.
Asked how their company’s response to the pandemic has changed compared with last week, about 29% said they have hired new employees.
About 7% of responding companies said they had recalled some of their furloughed employees since shuttered businesses began reopening in May. Just over 3% said they had recalled all furloughed employees and another 15% said they have not yet recalled any furloughed employees.
A total of 58 companies responded to the latest Houston Business Barometer survey conducted by the Partnership between August 10 and 12.
See results from last month.
Get information and guidelines on reopening businesses safely from the Partnership's Houston Work Safe Program. Visit the Partnership's COVID-19 Resource page for updates, guidance for employers and more information.