Skip to main content

Houston Business Barometer Week 2: 30% Say Outlook Has Worsened, Nearly Half Under Hiring Freeze

Published Apr 15, 2020 by A.J. Mistretta

H_GHP_Downtown_Freeways_2_2019

Small business executives are most worried about revenue and their employees’ well-being, according to the latest member survey conducted by the Greater Houston Partnership. 

A total of 140 small business companies responded to the second Houston Business Barometer survey conducted by the Partnership between April 13-14. The number of respondents who have instituted work-from-home practices in their company climbed to 93.8% (up from 84% last week), while 24.6% have shut down whole or partial operations (up from 22.5% last week). 

Nearly half (47.1%) of responding companies said they had enacted a hiring freeze (up from 36% a week ago), and 53.6% indicated their revenues have declined since their last billing cycle (down a bit from 56.7%). 

When asked about their firm’s short-term outlook during the week that ended April 11 compared with the previous week, 30.7% indicated it had gotten worse and another 42.1% said there was no change. 

Asked how the fallout from the pandemic has impacted their operations, 41% said their operations have been severely impacted (down from 53.3% a week earlier) while 34.5% said the impact has been moderate (up from 28.9%). 

Respondent firms’ top three concerns were revenue/sales (85.7%), employee well-being (67.9%) and profits (66.4%). 

The following breaks down how long firms now believe they could remain afloat based on projected cash flow and without federal assistance:
 

Time Period                       Respondents
1-2 weeks                          0.0%
3-4 weeks                          4.3%
5-6 weeks                          4.3%
7-8 weeks                         10%
3-6 months                        19.3%
Longer than 6 months      50.7%
Don’t know                        11.4%

See results from Week 1

Visit the Partnership's COVID-19 Resource page for updates, guidance for employers and more information. And sign up for daily email alerts from the Partnership as the situation develops. 

Related News

Membership

Fall 2025 New Partnership Members

11/6/24
The Greater Houston Partnership welcomed 30 new member companies this fall. The Partnership works to connect companies with resources, information and networking opportunities to help increase business while also providing a platform to influence the direction of the region. New members include: Arete Public Affairs: Arete Public Affairs is a comprehensive consulting firm with over three decades of experience specializing in federal, state, and local government relations, public affairs, and strategic business development. Website.  AVI-SPL: AVI-SPL is a digital enablement solutions provider that designs, integrates, manages, and supports on-site and cloud-based communications and collaboration technologies for organizations around the globe. Website  BlueByrd: BlueByrd is a marketing consulting that helps businesses increase revenue by providing sales and marketing tools, tactics, and strategies. Website.  Bridgehead IT:  Bridgehead IT, is a full-service technology partner dedicated to IT services in San Antonio and beyond. Website.  Coalition for the Homeless of Houston/Harris County, Inc.: Coalition for the Homeless of Houston/Harris County acts as a catalyst, uniting partners and maximizing resources to move people experiencing homelessness into permanent housing with supportive services. Website.  Edelman: Edelman is a global communications firm that partners with businesses and organizations to evolve, promote and protect their brands and reputations. Website.  Garver, LLC: Garver is an employee-owned engineering, planning, and environmental services firm focused on aviation, transportation, buildings, federal, water and wastewater services; surveying; advisory services; and construction engineering and inspection. Website.  Genpact: Genpact is a global professional services firm that uses data, technology, AI, and digital operations to help companies solve challenges and grow: Website.  Hatch: Hatch combines vast engineering and business knowledge, working in partnership with clients to develop market strategies, manage and optimize production, develop new game-changing technologies, and design and deliver complex capital projects. Website.  Kelly Zuniga Consulting: Kelly Zuniga Consulting is a consulting firm that specializes in supporting and leading teams that focus on the successful execution of donor-based philanthropy advisory services. Website.  Loring Consulting Engineers: Loring Consulting Engineers provides comprehensive building and infrastructure systems design services for every building type. Website.  Meow Wolf Houston: Meow Wolf is an American arts and entertainment company that creates interactive, immersive art installations. Website.  Modern Animal: Modern Animal is a veterinary clinic company that uses technology and design to provide a better veterinary experience for pets and their owners. Website.  Murphy's Corporate Housing Associates: Murphy's Corporate Housing Associates sets the standard for furnished corporate housing solutions with customized packages, ideal locations, and 24/7 customer care. Website.  Nordstrom Rack: Nordstrom Rack is a department store chain that sells clothing, shoes, accessories, and home decor at a discount. Website.  PROS, Inc.: PROS, Inc. provides AI-based solutions that power commerce in the digital economy. Website.  Right Choice Construction: Right Choice Construction is Houston’s premier General Contractor specializing in commercial projects, including ground-up construction, steel buildings, warehouses, remodels, and build-outs for retail stores, restaurants, banks, and shopping centers. Website.  Rock Career Development: Rock Career Development is a boutique career services firm in Houston, Texas that helps athletes and professionals transition to new opportunities and helps organizations improve employee engagement and retention. Website.  ROCO: ROCO is a dynamic and innovative professional chamber orchestra that flexes from 1 to 40 musicians from all over the US and Canada, with guest conductors from around the globe. Website.  Skipper Bio Med: Skipper Bio Med is a research consultancy that provides pro bono services to academic and industry research groups that are developing promising lung and pancreatic cancer technologies. Website.  Songwon International America's, Inc: Songwon International America's, Inc is the second largest manufacturer & supplier of polymer stabilizers in the world, offers a very broad range of specialty chemicals. Website.  Stewart Title Company: Stewart Title Company provides services and resources for a variety of customers across the real estate industry. Website.  TGS Cedar Port Partners Industrial Park: TGS Cedar Port Industrial Park is the largest master-planned rail-and-barge-served industrial park in the U.S., offering rail-served, e-commerce, distribution, cold-storage, and manufacturing users unmatched resources for the future of industrial logistics and development. Website.  The Alexander Group: The Alexander Group has conducted thousands of executive searches since its inception in 1983. Website.  The National MS Society: The National MS Society is here to help people in Arkansas, Oklahoma and Texas get the information, connections and support needed to move their lives forward and find their place in the MS movement. Website.  The Parent Teacher Collaborative: The Parent Teacher Collaborative is a school and community-based organization that aims to improve student outcomes by building strong collaborative partnerships between parents, educators, and community members. Website.  The Texas Heart Institute: The Texas Heart Institute is an world-class, independent, nonprofit organization that is improving cardiovascular health through trailblazing research, thought leadership, education, and patient care. Website.  TMEIC Corporation Americas: TMEIC Corporation Americas provides diverse solutions to realize carbon neutrality. Website.  WGU Texas and South Region: WGU Texas and South Region is a non-profit, online university that offers affordable, competency-based degrees in high-demand fields. Website.  Winston & Strawn LLP: Winston & Strawn LLP is a global law firm with more than 975 attorneys in the United States, Europe, Asia, and South America. Website.  Click here to see the Partnership's Membership Directory. To learn more about membership with the Greater Houston Partnership click here, or contact membership@houston.org.
Read More

Related Events

Economic Development

State of the Port

What does the future hold for Port Houston and its role as a global commerce hub? Join us at the State of the Port on Friday, November 22 to uncover the exciting developments…

Learn More
Learn More
Executive Partners