The German American Chamber of Commerce South Releases Preliminary COVID-19 Survey Results
Remarkable confidence in economic strength and business outlook.
June 5, 2020, Atlanta, GA — Between May 14th and June 1st the German American Chamber of Commerce of the Southern U.S., Inc. (GACC South) conducted a survey amongst 101 companies on a wide range of question related to COVID-19 and its business impact. The key takeaway is that, against the national trend, 2/3 of the companies have not laid-off or furloughed any employees and do not plan to do so.
The surveyed are representative of the GACC South’s membership base with more than 50% of respondents either C- or Director-Level employees, work in foreign-owned companies (41.5%) companies with less than 50 employees (50%) and are predominantly active in automotive, manufacturing and automation industries.
Other key findings:
- More than half of the companies have not considered or implemented pay cuts
- Almost as many companies that have successfully applied for the Paycheck Protection Program (PPP) also did not apply for any government assistance
- Half of the companies do not plan to make any significant changes to their business strategy
These are the initial findings of the survey. The GACC South will issue a second report with more in-depth analysis.
Director of Marketing
About the GACC South
The German American Chamber of Commerce of the Southern United States, Inc. (GACC South) was founded in 1978 to promote and support bilateral trade between Germany and the U.S. The GACC South is headquartered in Atlanta, Georgia, with a branch office in Houston, Texas.