When an unprecedented tsunamic like COVID hits humankind – only one word comes to mind – “Crisis” – and it’s taken some time for leaders throughout the world to acknowledge a few things;
- This is indeed a crisis – both in health and then subsequently economic.
- Response to this has to be done with a “war” like effort.
- Significant behavioral shifts are going to happen because of this in societies.
While Federal & State governments are working around the clock to support the health-care system, many local government leaders are looking to assess the economic damage done. While there is no perfect model for measuring economic damages – we at QuestionPro have come up with a survey-based model to assess the impact at the local level.
Most county and city revenue is derived from sales/business & occupancy taxes everyone is expecting a dip in revenue – but by how much is the larger questions.
- Do we expect a 50% decline or an 80% or a 20% decline in revenue?
Obviously, there are many inputs that go into such modeling, but small business sentiment and operations are typically early warning indicators.
We’ve designed and developed two models – specifically around the PPP / SBA Loan program that we’ve run – one for Small Businesses and another one for Non-Profit’s – to determine the following;
- Efficacy of the SBA / PPP Loan Program
- Ground-level estimates around the “Layoffs/Dips” in Revenue
- Medium Term / Horizon Level Economic Outlook
Together, if leaders can use that data as inputs to models for tax base calculations, state/local and government entities can use this data to justify asking for grants and assistance at the federal level.
If you would like to use these surveys to do an assessment impact, its FREE to use.
Please email us at firstname.lastname@example.org – and we will:
- Send you a customized link to either of the two surveys;
- You will also have a customized link to a dashboard/analytics and raw data – that you can use for your economic impact models.
We look forward to working with you.