The Greeley Economic Health & Housing Department is a proud member of the Northern Colorado Regional Economic Development Initiative (NoCO REDI)! This past spring, the NoCO REDI team conducted a Q2 2021 business survey between 4/30/2021 - 5/8/2021. There were a total of 162 business responses, of which 153 were unique and reflect one response per business. Responses for this survey (Q2 2021) were slightly lower than the Q4 2020 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 and through Q1 2021, 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 five quarters of an unprecedented pandemic that has challenged them to continually adjust their business models to new regulations and dynamic consumer behavior. COVID-19 restrictions do not vary between County and State.
Survey Results & Summary Points:
- There were 153 unique responses from businesses located in Northern Colorado communities
- The sector with the largest portions of responses was Accommodation and Food Services (19%)
- 52% of businesses report no change in their employee headcount since early 2020. 27% have seen a decrease and 21% have seen an increase in employee headcount.
- 46% of business-respondents reported decreased sales revenue since early 2020, while 25% reported no change, and 27% have seen an increase in sales revenue.
- 63% of survey respondents feel their confidence is up in regards to the recovery of the Northern Colorado economy over the next 6-12 months.
- 59% of respondents indicated they have experienced supply chain challenges in 2021
- At the time of completing this survey, 58% of companies had returned to in-person work
- Over the next 6-12 months, 36% of companies expect sales to increase.