Strome Business Minute With Dr. Jeff Tanner

The National Federation of Independent Businesses reported that on March tenth, only 16% of its members were very concerned about the potential impact of the COVID virus but by April first, the number was well over 70%. Data released this week by a regional task force comprised of economic development agencies, chambers of commerce and the Strome College of Business finds similar results, indicating that locally, three out of four businesses have been disrupted or severely disrupted by the crisis, with twenty-eight percent saying that their revenue is down more than half, while another fifty five percent are down twenty five percent or more. Three out of five businesses say that they expect more layoffs will occur, particularly if the crisis continues. The full report can be found at 7 5 7 Recovers dot com. To learn more, visit odu.edu/business. This Strome Business Minute is presented by the Strome College of Business at Old Dominion University.