File photo
File photo
Fort Worth businesses have been feeling the impact of the COVID-19 pandemic, and now residents know just how much after officials gave details in a City Hall presentation.
The March 25 forum revealed results of a survey of more 1,200 participants who’ve been affected by the government's and public's response to the coronavirus. Most reported that their businesses have suffered a revenue decline of more than 80%, Robert Sturns, the city's economic development director, said. Companies with fewer than 25 employees are said to be feeling a major hit, as they have had the most difficulty gathering enough money to cover rents and mortgages.
“The one thing that small businesses are really being impacted by is access to capital," Sturns said, according to Community Impact. "A lot of small businesses do not have the wherewithal to operate more than 30 days without income coming in.”
While utility companies such as the City of Fort Worth and Atmos Energy have stopped billing some business clients, Sturns said most businesses are awaiting relief from the state and federal government.
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