Supply Chain Disruptions Top Issue for Halton Businesses
Supply chain or logistics disruptions is the top challenge facing Halton businesses during COVID recovery followed by a shortage of employees and economic uncertainty, according to the most recent Business Recovery Survey by the Halton Small Business Centre.
More than 700 respondents from across Oakville, Burlington, Milton and Halton Hills completed the online survey in November 2021, including Bronte BIA members.
Other survey results:
- 2/3 of essential businesses and 90% of non-essential businesses reported declines in revenue
- Non-essential businesses were more negatively impacted with over 50% reporting their revenue was more than cut in half
- A third of essential businesses had no revenue loss or increased revenues
- 77% of businesses with lost revenue estimate it will take over a year to recover to pre-pandemic levels
- 55% of businesses took on additional debt since March 2020
- 43% of business owners that took on debt estimate repayment exceeding two years
- 34% of businesses decreased the number of paid staff
- Almost 50% of businesses changed the way they deliver their products and services, altered their hours or shifted to hybrid work models since the pandemic began