AUSTIN (Talk1370.com) -- A new survey from the Downtown Austin Alliance paints a grim picture of how business owners are faring in the wake of the coronavirus.
Tuesday, the group published the results of its Downtown Retail & Small Business Survey - a snapshot of 80 businesses across the downtown area, and the impact that COVID-19 has had on their operations.
84% of the businesses who responded said their revenues had decreased more than 75% since the public health orders went into effect, while just over 76% of businesses said they had permanently or temporarily let go of more than 75% of their employees.
As the state begins to take steps to re-open some shuttered businesses, half of the businesses surveyed felt they would be able to open up immediately as soon as public health orders are lifted. Roughly 27% would need somewhere between a week to a month to be able to open their doors.
Once the doors are open, however, many are concerned about getting customers to come back, and being able to crawl out of the financial hole the virus has created.
You can read the full results of the survey on the Downtown Austin Alliance's website.