THE CORPORATION OF THE TOWN OF COCHRANE

PRESS RELEASE - COVID-19: BUSINESS IMPACT SURVEY RESULTS

April 23, 2020

Cochrane, ON – The Cochrane, Iroquois Falls and Smooth Rock Falls COVID-19 Business Impact survey was conducted to understand the impact of COVID-19 on local businesses and organizations during and beyond the pandemic.

A total of 78 responses were received between April 7 and 14.  Of that total, 70% were the private sector, 27% from the public sector and 3% from the not-for-profit sector businesses and organizations in the Cochrane, Iroquois Falls and Smooth Rock Falls region.

When survey respondents were asked how they would rank the risk that COVID-19 poses to their long-term business prospects:

27% indicated that it could put them out of business.
46% that it is going to significantly impact their finances.
19% that although it may impact them financially, they are confident that they can weather the storm.
8% indicate that it has no impact on their long-term business prospects.

Since the release on March 26th of the list of essential services, 43 of the survey respondents reported lay-offs.  Those layoffs represent 110 full-positions, 90 part-time positions, 11 contract positions, 18 seasonal jobs.

Local businesses and organizations were also asked what their local community could do to assist help them in managing the COVID-19 pandemic.  Here is what they ask of the residents of the community:

Stay hOme to help stop the spread – the sooner we all stay home, the sooner things can be back to normal.

The parTners involved in conducting the Cochrane, Iroquois Falls and Smooth Rock Falls COVID-19 Business Impact survey are: Far Northeast Training Board, The Town of Cochrane, Smooth Rock Falls Economic Development Corporation and Iroquois Falls Economic Development Corporation.

Those partners are now using the survey results to identify possible local solutions.  The group will follow-up with an update on May 11th.

The results of the survey are available on the following site www.fnetb.com or by clicking the button below.

For further information, contact:

Kaitlyn Monsma
Economic Development Officer
The Corporation of the Town of Cochrane
T: 705-272-4361 ext: 239
E: Kaitlyn.Monsma@cochraneontario.com

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