Gulfshore Business has been providing daily updates on temporary business closures, adjustments, financial assistance and more in response to COVID-19. For daily information, subscribe to our free newsletter, Gulfshore Business Daily, and find archived newsletters at GulfshoreBusiness.com.
Christopher Westley
Friday, April 3
MANY SWFL BUSINESSES EXPECT PERMANENT ADVERSE EFFECTS FROM CORONAVIRUS PANDEMIC, FGCU STUDY SHOWS
Although the majority of businesses in Southwest Florida have experienced temporary adverse effects because of the coronavirus pandemic, about a quarter of local businesses expect permanent damage, according to preliminary data from a local study conducted in late March by the Regional Economic Research Institute at Florida Gulf Coast University. More than 25 percent of small businesses in the region expect permanent adverse effects from the crisis, while 21 percent of businesses with 25 or more employees expect long-term economic consequences. On the flip side, nearly 3 percent of the owners of both large and small businesses in Charlotte, Lee and Collier counties expect potential positive effects on their businesses, the study shows. Unfortunately, some local businesses reporting to be temporarily closed now because of the coronavirus effect may not actually reopen, says economist Christopher Westley, dean of the Lutgert College of Business at FGCU. “I think there will be a large number who are permanently closed,” he said. “We’ll have a better idea about that in a month or two.” The FGCU survey, which had more than 1,000 responses, included six questions related to customer demand, sales revenue, working from home and expectations about the coronavirus effect to establish a baseline for economic conditions now so that they can be tracked over time. The FGCU research team will ask the same six questions during the second half of each month to track how conditions change.
Thursday, April 2
CARES ACT ALLOCATES FUNDS TO HELP SMALL BUSINESSES
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. The administration soon will release more details including the list of lenders offering loans under the program. In the meantime, the U.S. Chamber of Commerce has issued the guide below to help small businesses and self-employed individuals prepare to file for a loan. For more information, click here. “The CARES Act: How the numbers are turned into action” webinar will take place at 1 p.m. on Thursday. To participate, call U.S. toll-free: 800 309 1256 | International: +1 323 347 3622 | Passcode: 603096. The Florida Small Business Emergency Bridge Loan Program is also currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19. Find out more information on this program here.
Wednesday, April 1
FLORIDA POWER & LIGHT PLANS TO LOWER BILLS
Florida Power & Light (FPL) announced Monday in a letter to customers that it is taking the unprecedented step of asking the Florida Public Service Commission to allow the utility to fast-track a significant decrease in electric bills beginning in May, which would result in FPL’s average residential customer who currently pays about $96 each month, receiving a one-time decrease of nearly 25% on their May bill. Business customers also will see a significant one-time decrease in May. Click here to learn more.
Tuesday, March 31
LEE COMMISSIONERS’ RESOLUTION UNDERSCORES SOCIAL DISTANCING FOR PANDEMIC
Lee County commissioners avoided any “shut down” rhetoric Monday when it comes to the coronavirus pandemic. Commissioners unanimously adopted an emergency resolution Monday that basically codifies and adopts the public health advisory concepts identified in the Florida governor’s executive order last week. The resolution addresses measures to limit the risk of exposure to COVID-19 for the vulnerable populations over the age of 65 or with high-risk conditions, reduce gatherings of groups of persons, and the means of conducting business for the workforce and workplace. “All business owners, supervisors, managers and others in charge of conducting business in the state of Florida should allow telework of employees to the extent that can be accomplished without significantly disrupting the ability to conduct business,” the resolution reads. “Employers should make every effort to reduce the onsite workforce to 50% capacity, where possible, to the extent that reduction can be accomplished without significantly disrupting the ability to conduct business.” The takeaway message from the meeting is that people should be encouraged to stay at home, said Commission Chairman Brian Hamman. Anyone with cold or flu-like symptoms is to stay in their homes until the emergency expires.
Monday, March 30
ORDER TO SHUTTER NON-ESSENTIAL BUSINESSES FAILS IN COLLIER COUNTY
An executive order to temporarily close non-essential businesses in Collier County because of the coronavirus unanimously failed Friday afternoon during a special emergency meeting of county commissioners. After more than 30 residents spoke against aspects of the order during the nearly four-hour meeting, commissioners talked about delaying a vote until next week before eventually shooting down the proposal made by county staff. The measure also mandated that residents stay in their homes, and would have closed the county to all tourists and leisure visitors for three weeks. State Rep. Byron Donalds of Naples was one of the public speakers against the executive order, telling county officials that he doesn’t think they have the authority to enact a stay-at-home order. He implied that the local order was eroding rights protected by the U.S. Constitution.
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