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Greater Memphis Chamber survey looks at COVID-19 impact on local businesses

The numbers represent responses from business owners as of March 26.

MEMPHIS, Tenn. — The Greater Memphis Chamber today released the latest numbers from its ongoing COVID-19 Greater Memphis Business Impact Survey. 

Based on current responses from business owners in the Greater Memphis region as of March 26:

  • 72 percent of local businesses remain open (8 percent decrease since March 20)
  • 73 percent of local businesses have experienced changes to hours and hourly work schedules
  • 50 percent of local businesses have moved employees to remote work (2 percent increase since March 20)
  • 34 percent of local companies have reduced staff.
  • Of those companies who have experienced staff reductions,
    • 52 percent have laid off fewer than 10 workers
    • 16 percent have laid off 11-30 workers
  • 38 percent of local businesses say they do not anticipate additional layoffs in the next two weeks. 40 percent say it is too early to tell if they will need to lay off additional employees over the next two weeks.
  • Of Food & Beverage establishments and Entertainment & Leisure establishments
    • 95 percent have experienced changes to hourly or hourly work schedules.
    • 39 percent have not laid off any workers.

“We are in constant contact with the local business community and we are translating the information they share with our local and state government leaders in a united effort to help Memphis and Shelby County minimize the impact of COVID-19-related disruptions to our economy,” said Beverly Robertson, President & CEO of the Greater Memphis Chamber. “The public and private sector are working hand in hand to help ensure that we retain as many jobs as we can and that we connect our businesses with the resources they need to stay afloat in this challenging climate.” - Beverly Robertson, President & CEO of the Greater Memphis Chamber

Chamber to host SBA Loan Application process webinar The Greater Memphis Chamber is hosting a free webinar with the US Small Business Association to review the SBA Disaster Loan program for COVID-19. This webinar will feature a review of the SBA's program as well as details on the application process.

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Coronavirus in Context: 

The symptoms of coronavirus are similar to the flu or a bad cold. Symptoms include a fever, cough and shortness of breath, according to the Centers for Disease Control.

Most healthy people will have mild symptoms. A study of more than 72,000 patients by the Centers for Disease Control in China showed 80-percent of the cases there were mild.

But infections can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death, according to the World Health Organization. Older people with underlying health conditions are most at risk.

The CDC believes symptoms may appear anywhere from two to 14 days after being exposed.

Lower your risk

  • Wash your hands often with soap and water for at least 20 seconds. If soap and water are not available, use an alcohol-based hand sanitizer.
  • Avoid touching your eyes, nose, and mouth with unwashed hands.
  • Avoid close contact with people who are sick.
  • Clean and disinfect frequently touched objects and surfaces. 
  • If you are 60 or over and have an underlying health condition such as cardiovascular disease, diabetes or respiratory illnesses like asthma or COPD, the World Health Organization advises you to try to avoid crowds or places where you might interact with people who are sick.