ALAMOSA – In a recent survey of businesses in the San Luis Valley, nearly half of those responding indicated that the COVID-19 pandemic has had a low impact on their operations and they were confident they would “weather the storm.”

Travis Stoker who authored the survey and is serving as Americorps VISTA with SLVDRG, described the results a very positive. “Many businesses reported doing better than we expected,” Stoker said.

Another 30 percent characterized the impacts as “medium” and said there would be a significant impact on their financial condition. About 12 percent replied that the effects of the pandemic might put them out of business.

The survey was conducted by the San Luis Valley Development Resources Group (SLVDRG) during weeks in August and September. Businesses across the Valley were contacted by email, social media, and news sources asking them to respond to the survey, called the SLV Business Health Check-In.

“Although we recognize the hospitality sector and many micro-enterprises have been more severely affected, overall the information indicates the potential for the economy to recover stronger than prior to the disruption,” said Kevin Wilkins, executive director of San Luis Valley Development Resources Group.

Most businesses had received financial assistance from federal or local programs such as the Paycheck Protection Program, the Small Businesses Administration’s Economic Injury Disaster Loan program, or local grants and loans. About three-quarters surveyed had received aid from federal sources and less than 20 percent received aid from local sources.

The business situation improved for 75 percent of the respondents following the lifting of stay-at-home orders. A few commented they were extremely busy and that business was above normal for this time of year.

A large majority of businesses said their number of employees had stayed the same. A few said their workforce had increased. However, a significant number, about 40 percent indicated a reduced workforce either through reduced hours, temporary leave, or permanent layoffs.

Despite the economic hardship, more than 70 percent answered they were not considering selling their business. A few indicated they had considered selling but were unsure, and fewer said they intended to sell their business.

As to the future of their business situation, nearly 75 percent were optimistic that things would improve, but half thought the recovery would long-term. About 20 percent were unsure of the future, and few expected things to get worse.

“As we formulate strategies to come out the other side of the pandemic, this information will provide some guidance in developing our recovery efforts,” explained Wilkins. “We anticipate SLVDRG’s recovery efforts to be targeted at businesses importing cash to the region to support quality of life and community amenities.”

The results of the survey are available online at slvdrg.org.