RESEARCH TRIANGLE PARK – Business executives are sending a warning to Congress and the Trump administration: Pass a COVID-19 economic relief package now or face the economic consequences.
In a new survey, 54% of executives say the lack of pandemic assistance will have a negative impact on their firms.
And 23% say a package is needed “in the next month” if it is to be effective.
Congressional leaders continue to debate contents of a bill with Trump and his team.
“Business executives overwhelming say containment of the pandemic is the most important thing government can do right now to help them, eclipsing renewed stimulus, business relief or keeping taxes and regulation in check,” said Ash Noah, an executive with the Association of International Certified Professional Accountants that conducted the survey.
The following graphic spells out the priorities as seen by executives:
AICPA graphic
However, not all findings in the survey were negative.
“There are signs of optimism from our survey respondents that some answers lie ahead on the pandemic – stronger profit and revenue expectations, for example, and a better hiring outlook,” Noah said in a statement.
Some 37% of execs surveyed are optimistic about the economy entering 2021. That’s up from 24% in the last quarter.
Overall 49% are optimistic about their own firms’ prospects, an improvement from 41% in the previous survey.
Also, 17% of firms plan to step up hiring vs. 13% from last quarter.
