Wausau small businesses bouncing back
For the Wausau Times
WAUSAU – The Wausau River District (WRD) says that Wausau small businesses are bouncing back.
WRD is a Main Street America accredited program that spans 34 square blocks and comprises approximately 220 businesses. To assess the continued impact of the COVID-19 pandemic on these businesses, the WRD conducted a series of online surveys throughout 2020, most recently March 23-30.
Forty-four businesses responded, of which 97 percent of respondents employ less than 20 employees and over 90 percent are locally owned.
“The WRD survey indicates that the majority of small businesses are no longer concerned about closing permanently as a result of the pandemic. In total, during the COVID-19 pandemic, there are -1 net businesses,” a WRD release stated.
“COVID-19 has significantly impacted small businesses’ revenue; many chose to adjust business models and reduce staff to limit overhead expenses. Businesses’ ability to adapt their business models and the changing consumer behaviors resulted in some businesses being more successful now when compared to before the pandemic.
“A year later, only one-third of the businesses that indicated potential layoffs reported having to let go or lay off employees last year. Nearly all businesses indicated that they plan to bring their staff back for in-person work.
Business owners are primarily looking for more cooperative marketing opportunities and training on social media and e-commerce.
“The data collected from these surveys is extremely valuable, as it not only serves as a tool for us to better advocate for our small business community but also helps us monitor the continued health of our downtown and river west businesses,” says Blake Opal-Wahoske, executive director of the Wausau River District, “The latest data shows our businesses ability to adapt quickly to changing consumer behaviors and better position themselves for the future.”
“Although COVID-19 has had a dramatic and lasting impact on our business district, in the foreseeable future, with medical advancements and outdoor programming, we anticipate increased business activity in our downtown area,” the release added.