Fifth ACEC Member Survey on COVID-19 Impact Reveals High PPP Participation

ACEC News / Coronavirus

April 24, 2020

Fifth ACEC Member Survey on COVID-19 Impact Reveals High PPP Participation

Here are the ACEC Business Impact Survey (Wave 5) results.  The report includes an executive summary that highlights not only important significant results but also calls out differences in these results by firm size. 

Survey highlights include:

•  84 percent applied for the Small Business Administration (SBA) Paycheck Protection Program (PPP); 74 percent were approved.
• Of those that applied and were approved, 70 percent have received the funds in their bank account
• More than one-third (37 percent) of firms think business will return to normal within six months, another 35 percent think it will take one or two years. One-fifth (21 percent) are either not sure or don’t think things will ever be the same.
• To shore up their finances firms are freezing non-essential purchases (50 percent), speeding up collections (38 percent) and freezing salary/pay increases (30 percent).
• 8 percent report working on new projects directly related to the COVID-19 pandemic response
• 12 percent report having business areas that are overperforming.
• 36 percent say they will re-open their office(s) when they feel it is safe to do so, regardless of what their governor says.
• 41 percent say they are working on a plan to ensure worker safety.
• Nearly half of firms (49 percent) say they will restrict or prohibit domestic travel for training/events/conferences after stay-at-home orders are lifted.

Click here to view the survey report.

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