The COVID-19 pandemic has impacted Sbobet businesses around the world, but American businesses have faced some unique challenges. The virus continues to surge in the U.S., and there’s a long way to go before things can truly return to a state of normalcy for businesses and their customers.
It’s not all doom and gloom, though: Despite the economic strain and public health concerns, middle market business owners and executives are cautiously optimistic compared to their outlook at the beginning of the pandemic. Federal financial relief, plus some smart budgeting and operational adjustments, have helped these companies hold their own in the face of statewide shutdowns and stay-at-home orders, and they’re poised to regain their footing as more restrictions are lifted across the country.
KeyBank – a full-service commercial, corporate and investment bank with nationwide branches – recently surveyed 400 U.S. middle market leaders ($10 million to $2 billion companies) for its Q3 2020 Middle Market Business Sentiment Report. Here’s what the survey revealed about the current impact of COVID-19 on the middle market and what executives believe lies ahead for their businesses.
How has the U.S. middle market been impacted by COVID-19?
Between mid-March and early April 2020, nearly every state and region of the country had enacted some sort of stay-at-home order to prevent the community spread of COVID-19. During this time, many businesses, including 76% of middle market companies, were forced to either alter their operations or shut down completely while their home states were locked down.
Some states began reopening within a matter of weeks; others waited several months to begin lifting their quarantine restrictions. Because businesses are at the mercy of their state or region’s policies, many of them have had to keep up with changing regulations designed to keep their staff and the larger communities safe.
Among KeyBank’s survey respondents who reported taking action to mitigate the impact of COVID-19, these were some of the most common responses to the pandemic.