Lab42 wave 2 report: how are companies faring 8 months into the pandemic?

At Lab42, we certainly continue to feel the impact of COVID-19 throughout 2020. Being in the business of market research, we used our professional curiosity and converted it into data, as we wondered how other companies have fared through the crisis. 

Recently we conducted a follow-up survey to the original COVID Client Impact Survey from back in May (here). In our follow up survey, we asked our clients and other small businesses how the crisis has continued to impact them, other companies in research, as well as adjacent industries. Click on the link to download the topline report from this research, “Lab42 Report: How are SMB’s faring 8 months into the COVID-19 pandemic?”. 

A few highlights from the research include:

• Concerns among companies over COVID-19 and its impact remained high in October, with more than 8 in 10 companies (83%) reporting they were very or somewhat concerned.

• In October, many small companies moved to make more drastic cuts in order to deal with COVID-19

• In October, we saw the impact from COVID-19 becoming more permanent

• Most small companies (89%) continue to be just as worried in October about the longer-term impact of COVID-19