[MainstreetManagers] Norma's notes from last week

[Jeremy Zeller]

I do not have a powerpoint, but I thought I would share at least the notes I took from last week.  This is from last Thursday's zoom meeting:

Norma training:  What will discuss
Roles at Every level in post COVID 19 recovery
Looking at our Inputs to help us make informed decision
The Strategy for Recovery
Aligning our work to Move Forward
EV=Strong Local Economy
Design=Authentic Sense of Place.  Safe welcoming place.
Promotion=Connectivity Activity
Organization=Community Ownership
TWO FOLD RESPONSIBILITY
Sustainable District Transformation - What we want to achieve
Effective Revitalization Program - So how do we make it happen?
20% Visionary
70% Want to believe but see something
10% Nay sayers
INPUTS - ESSENTIAL FOR INFORMED-DECISION MAKING
EV:  Businesses - Closing $ impact, reopening efforts, retention outlook, resource needs (Interviews/Surveys)
DESIGN:  Physical space - Impact on space - safety guidelines, vacancies ( temporary or permanent
PROMOTION:
ORGANIZATION:  Main Street - Impact on programming and organizational resources, Transformation Strategies (review/interviews)
FINDINGS FROM NATIONAL SURVEY:

*         Less than half of respondents who applied for federal relief dollars in the initial stimulus round received funding.

*         78% of the small businesses who responded had applied for federal relief associated with COVID-19, of those, 48% received funding

*         The smallest businesses had the least success with their application

*         39% of business owners who applied and have less than 6 employees received funding, compared to 64% of businesses with over 6 employees received funding

*         Businesses in small towns applied for relief less often had success receiving funding

*         89% of businesses in larger towns applied for relief, compared to 76% of businesses in less than 50,000 residents

*         Funding from PPP and EIDL offered little long-term financial relief

*         Half of the businesses that received funding through PPP and disclosed their funding amount received was less than $8,000, suggesting those businesses had relatively few employees and limited payroll expenses

*         More than a third of businesses earned no revenue in April and laid off or furloughed their entire staffs

*         31% of food service businesses and 28% of retail businesses generated no revenue in April

*         Personal care businesses were hit especially hard.  73% of businesses in survey did not earn revenue in the month of April, and 76% had laid off or furloughed their entire staffs

*         Main Street programs were a key provider of assistance to small businesses responding to the survey

*         Of the complete set of 728 business respondents, 40% of businesses said they received assistance from their local Main Street organization

*         More than 2.25 times the number of respondents have gotten support from Main Street than support from other sources, aside from Chamber of Commerce

*         Main Street was identified as a recent source of support by 42 percent more businesses than even Chamber of Commerce
POST RECOVERY STRATEGY
Overarching Needs or Opportunities (Informed by inputs)
Support Business Retention
Rebuild Consumer Confidence
Rethink Vacant Space
SUPPORT BUSINESS RETENTION
EV:

*         Direct Financial resources/incentives

*         Technical assistance - expanding or adjusting business model
Design:

*         Implementing social distancing guidelines, fostering sense of Safety welcoming

*         Space in Businesses

*         Space in District

*         Promotion:

*         Promote Businesses efforts - story telling

*         Assess feasibility and impact of events
Organization:

*         MS Program's position/role in recovery - value proposition, messaging

*         Resources and partnerships for organizational sustainability


Jeremy Zeller
Oklahoma Main Street
Oklahoma Department of Commerce
Jeremy.Zeller at OKcommerce.gov
405-815-5186 | OKcommerce.gov<https://okcommerce.gov/>

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