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SEMA survey: Coronavirus having short-term impact on business

April 20th, 2020 | by Tire Business Staff
SEMA survey: Coronavirus having short-term impact on business


DIAMOND BAR, Calif — New research by the Specialty Equipment Market Association shows the majority of small business owners surveyed indicate COVID-19 is having only short-term or no impact on business.

SEMA surveyed 2,000 individuals active in the specialty-equipment market to learn that 17% — about one-sixth of the respondents — report no impact from the coronavirus crisis. And another 70% indicated there is a short-term impact.

Another 13% indicated “our business is severely impacted long-term,” and 1% said they would likely permanently discontinue operations, the trade group said.

“The results of this survey show the resiliency of the specialty automotive industry and how it continues to push forward, working to move past the COVID-19 disruption,” SEMA President and CEO Chris Kersting said.

“We are using this feedback to further develop resources to help member businesses through this time of economic interruption.”

Mr. Kersting added the aftermarket industry group’s membership remains positive and looks forward to reopening. The upcoming SEMA show in Las Vegas, scheduled for Nov. 3-6, will “play a key role in launching a successful 2021.”

A total of 55% of respondents said they have not closed sites, and 13% said they also are open but considering closures. Another 17% reporting closing some sites and 15% closed all locations.

Regarding employment, 52% of employees still working at company offices and facilities, 30% are working from home and 18% have been placed on furlough or laid off, the survey reports.

“Now, more than ever, our priority for SEMA is clear: assuring the health, safety, and business continuity for our members, partners, employees, and the overall industry community,” Mr. Kersting said in the statement.

The survey of SEMA members took place April 1-7.

Article courtesy of: Tire Business Staff

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