COVID-19’s Impact on California Private Companies

A Survey of Private Company Insights

Download a Complimentary Copy of Our Survey Results

Over the last few months, we have seen unparalleled uncertainty in the economy and for companies across the world. In response, we conducted a survey to measure the pulse of private companies in California as they react to the COVID-19 pandemic. 

Results of the 163 responses collected indicate that private companies are greatly concerned about the impact on their businesses. A majority of the respondents (72%) expect a medium or high amount of impact to their business. However, despite the level of concern and uncertainty, almost 21% of respondents don’t anticipate severe ramifications on their business.

Key insights include:

  • 52% Anticipate some or all staff continuing to work remotely
  • 71% Have improved liquidity through the PPP loan
  • 76% Have not yet taken advantage of employee credits/payroll tax deferrals or other CARES Act tax items at the time of response 
  • 65% Expect significant ramifications by the end of 2020 if business remains restricted
  • 68% Have already made or will have to make significant changes by the end of 2020 given their current available cash borrowing