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  • LAKESHORE ADVANTAGE SHARES BUSINESS IMPACT ANALYSIS REPORT

    LAKESHORE ADVANTAGE SHARES BUSINESS IMPACT ANALYSIS REPORT
    Data points to necessity of returning to work, even in gradual capacity. 

    Find full report HERE

    4/21/2020 // ZEELAND, MICH – Lakeshore Advantage, alongside nine local chambers of
    commerce, has been polling Allegan and Ottawa county companies weekly for the past four
    weeks to quantify the impact of COVID-19 on their businesses. Since the survey began on
    March 15, 315 unique businesses have participated.

    Sixty-four percent of respondents said they were open, and of those, half are running at 50% or
    less capacity. Fifty-seven percent of respondents have laid off or furloughed employees since
    March 15.

    “Lakeshore Advantage conducted this weekly polling for two keys reasons,” said Jennifer
    Owens, President, Lakeshore Advantage. “First and foremost to ensure our team’s
    programming and resources meet the changing needs of area employers. It also will allow us to
    benchmark our community with more than 100 organizations throughout the U.S. conducting
    similar polling.”

    The polling shows the greatest needs for area businesses include:
     Financial relief
     Return to work action plan
     Personal protective equipment
    According to the poll data, 82% of respondents indicated applying for, or planning to apply for, state
    or federal funding. Twenty-three percent of respondents last week said their company would not
    survive four more weeks of a stay at home order.

    “We businesses cannot survive an additional 70 days of a stay at home order,” said Mark
    Forbes, Vice President, Special Projects of RCI Adventure Projects headquartered in Allegan.
    “Even with the Paycheck Protection Program loan, if stay at home continues, our employees will
    get paid but we will have no capital left to start the business back up.”

    Survey data shows that area employers are pivoting and responding to the need for personal
    protective equipment. Twenty-six percent of respondents indicated their companies have
    switched their product mix to make essential products. Examples include pivoting from office
    furniture textiles to making face masks, distilleries making hand sanitizer and companies
    networking their 3-D printers together to make face shields and sneeze guards.

    “The team at DeWys has been working diligently to shift our product mix to meet the growing
    needs of our customers in the medical, food processing and material handling sectors,” said
    Mark Schoenborn, President of DeWys Manufacturing. “We welcome direction from the state for
    all sectors to safely return to work.”

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