MAIN STREETS HIT HARD BY WEATHER

MAR. 5, 2015 • BY JON HURST

At the request of the Baker Administration to help their efforts to obtain federal disaster relief from the historic month of winter weather, RAM spearheaded a survey to determine average small business sales losses over the four week period of January 26-February 22. RAM designed a survey and recruited the Massachusetts chapter of the National Federation of Independent Businesses (NFIB-MA), Associated Industries of Massachusetts (AIM), the Massachusetts Restaurant Association (MRA), the Massachusetts Business Roundtable (MBA), and the members of the Massachusetts Association of Chamber of Commerce Executives (MACCE) to participate. The survey results confirmed the anecdotal evidence of just how severe the sales losses were, while at the same time showing a much higher loss number for small retailers and restaurants than for other employer sectors.

The average small business sales losses across the state were 24%; but the retail and restaurant numbers were far higher, at 49%. The reductions in payroll costs were only 7% for all businesses, and 14% for retail and restaurant, and thus most employers took care of their employees, while taking a very large hit to the bottom line.

Thanks to all of our RAM members for taking the time to participate in this important survey. Click here to view press release.

 

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