Half of Fort Worth businesses can’t survive a few months of coronavirus, chamber says
Nearly half of Fort Worth businesses can’t survive more than a few months of isolation caused by the coronavirus, a survey shows.
The Fort Worth Chamber of Commerce reports that 49% of business owners surveyed can’t sustain their businesses “longer than a few months if the current trend continues.”
Fort Worth and Tarrant County have issued emergency declarations forcing many businesses to close and others such as restaurants to offer takeout and delivery-only operations, as a way to slow the spread of the COVID-19 virus through the North Texas community.
“It’s been a tough couple of weeks for a lot of our small businesses,” Brandom Gengelbach, chamber president, said in a statement. “We’ve been making contact with as many of our members as we can to assess their needs and try to figure out ways we can help. We’re trying to remain positive and let them know that we are still here for them and we will continue to be available once we come out of this situation.”
Business owners reported that their top concern was cash flow, especially their monthly rent.
In a news release about the survey, the chamber reported that one unidentified respondent said “Within a few weeks, we’ll probably have to make some tough decisions if the business world and the market continue to close down and decline.”
The survey was not scientific. The chamber didn’t disclose how many business owners responded to the survey, but said a similar city survey received 1,200 responses.
The Fort Worth Chamber has about 1,700 members.
City and chamber officials are encouraging residents to support local businesses by ordering takeout and delivery items, buying gift cards and leaving positive reviews online for restaurants and retail establishments.
Also, Gengelbach said online tools are available to help business owners navigate what local, state and federal resources are available, including grants and loans.
