The Greeley Economic Health & Housing Department is a proud member of the Northern Colorado Regional Economic Development Initiative (NoCO REDI)! This past fall, the NoCO REDI team conducted a Q4 2020 business survey between 10/30/2020 - 12/15/2020. There were a total of 237 business responses, of which 206 were unique and reflect one response per business. Responses for this survey (Q4) were slightly lower than the Q3 survey, and overall survey responses have steadily declined since the first Northern Colorado Business Survey, which was administered 3/31/20 - 4/10/2020 and resulted in 855 responses.
As the pandemic continued throughout 2020, institutions and organizations have relied on surveys to understand the challenges and concerns faced by businesses and individuals. Survey-fatigue was evident as early as Q2 2020. Understanding this trend, NoCo REDI focused on developing a survey that businesses could easily access and quickly complete. Northern Colorado businesses have weathered four quarters of an unprecedented pandemic that has challenged them to continually adjust their business models to new regulations and dynamic consumer behavior. In mid-November, Northern Colorado counties were moved to Level Red (Severe Risk) on the State of Colorado’s COVID-19 Dial, which limited the capacity of most businesses to 25% and below, and precluded restaurants from conducting indoor dining. These new restrictions presented challenges for businesses as they pivoted once again to meet modified health guidelines.
Summary Points:
- There were 206 unique responses from businesses located in Northern Colorado communities
- The largest segment of responses came from Greeley, at 22%
- The sector with the largest portions of responses was Accommodation and Food Services (19%)
- 48% of businesses said that their annual headcount was down.
- 71% of businesses responded that annual sales were down
- Over the next 6-12 months, 36% of companies expect sales to increase.
Read the Northern Colorado Regional Economic Development Initiative survey report.