Local businesses fear closure as result of coronavirus
“They’ve had to decline their staff”: An alarming number of Redlands businesses could face closure while half expect a significant downturn as a result of coronavirus.
Redlands Coast
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ALMOST half of businesses on the Redlands Coast expect a significant downturn as a result of coronavirus.
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Data collected by the Redlands Coast Chamber of Commerce this week reveals 44.96 per cent of the region’s businesses significant effects as a result of the spread of coronavirus, with 29.14 per cent saying the virus will cause very significant effects.
While almost all of the 300 businesses who have so far taken part in the survey said they would be in some way impacted by the pandemic, 32.97 per cent said they were at risk of closure.
Meanwhile 84.78 per cent said they would will have reduced trade and 52.17 per cent would experience difficulty paying bills and meeting financial obligations.
Chamber president Rebecca Young said while the region’s constriction industry had recently experienced more than a 50 per cent drop before coronavirus gripped the nation, even more businesses were now feeling the squeeze.
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“I have spoken to small businesses... they’ve had to decline their staff.”
Ms Young said businesses hoped for extended time for payment of rates on both residential and commercial properties to help them keep their heads above water.
She said they also looked to ‘stay local, buy local’ campaigns and investment in infrastructure upgrades to help keep the local economy turning over.
Ms Young said, with an election underway, businesses would be looking to the new council to ensure they turned to local businesses during procurement processes.
“At the forefront of everyone’s mind when it comes to the election is infrastructure and development,” Ms Young said.
“I think businesses in the Redlands would definitely benefit from infrastructure.”
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