Summit County survey shows decrease in business owner confid

Photo by Liz Copan / Studio Copan
The Summit Prosperity Initiative’s recent economic impact survey reflected worsening business conditions and found that overall business confidence is decreasing and that staffing is a major concern.
The survey results from Oct. 30 to Nov. 12 were grim, and that was before the county went into level red. Project manager Corry Mihm anticipates the November and December impacts likely will be worse than the study indicated.
Year over year, October revenue declined about 10%. That figure varies greatly across businesses with about 18% reporting flat revenue, about 6% reporting decreases of 80% to 100%, and 6% reporting their best October ever. According to the survey, November’s revenue decline is estimated at 20% and December revenue is estimated to decline 25%, but actual results likely will be worse due to new restrictions, Mihm said.