Toronto, Ontario — From May 20 to 29, SEMA conducted a survey consisting of more than 1,800 professionals within the specialty-equipment industry to check in on how they have been doing amid the pandemic.
The study found overall the industry continues to maintain a positive outlook and is beginning to move past the disruption caused by COVID-19.
The number of companies that are “mostly business as usual” jumped from 17% in early April to 28% at the end of May. Almost 90% of companies said they are “mostly business as usual” or “impacted short-term, but will get through it.”
The survey found that In the coming months, businesses that experienced setbacks will undertake a variety of plans to return to full operations. Approximately 42 percent plan on taking measures to increase customer and employee safety, and 30% are allowing employees to continue to work remotely. A small percentage—one percent—chose to close facilities or lay off staff during the pandemic, and most plan to completely reopen or re-hire staff in the coming months.
By the end of 2020, 69 percent of companies predict that they will have the same—or more staff—compared to the amount they had before the virus.
Despite the disruption over the past few months, the survey results indicate that the industry remains optimistic about the future. Three-fourths of those surveyed said they are confident in their company’s plan moving forward.
