LOUDONVILLE, N.Y. (NEWS10) — In the latest Siena College poll, 57% of business leaders said New York State should focus on public health, not the economy.
The majority of business leaders think the state should continue to place restrictions on businesses through May 1st, instead of relaxing them. Only 35% of business leaders said they think their businesses will recover within six months.
“Despite having to lay off workers and downgrade economic projections, a majority of upstate CEOs agree with the sentiment expressed by one CEO: ‘people and health first, the economy can wait.’ The good news is that virtually all the CEOs we interviewed expect their business to survive this crisis. And 61 percent think that New York State’s ‘social distancing’ efforts, including restrictions on business operations in order to reduce the spread of the COVID-19 have been about right,” said Siena College Research Institute Director Dr. Don Levy.
Nearly half of those surveyed said businesses are counting on the state government for help. Only 46% of upstate business leaders said they were confident the New York State government will help them get through the economic hardships the public health crisis brought.
Instead of the state government, 59% think the federal government will step in to help businesses recover from virus-related economic hardships.
“They intend to weather this storm but New York CEOs are looking for help from the SBA in order to
retain and pay their employees. They also say state or federal actions like low cost loans, delays in filing taxes, funding the cost of employee leave and to some extent suspension of mortgage payments would be helpful as they struggle to find the light at the end of this tunnel,” Levy said.
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