Dennis Jansen Shares on Business Impact Survey in KBTX Interview
Jun 11, 2020
Summary: An interview with PERC Director Dennis Jansen on a new business economic impact survey aired on KBTX news on Wednesday, June 10, 2020.
The survey, which is a joint effort between the Private Enterprise Research Center and the BCS Chamber of Commerce, will provide information on the pandemic's effects on businesses in College Station-Bryan, including revenues, staffing numbers, whether loans have been sought, and the level of business conducted with Texas A&M or related activities.
"Our idea is to get a snapshot of where the business world is right now in our local area and we will re-do this survey in September when we hopefully can see how the responses change and maybe how much progress has been made as we return to some semblance of normalcy," said Jansen.
PERC also produces a monthly report, Economic Indicators of the College Station-Bryan MSA
, that provides a business-cycle index for our local area. Whereas that report is based on officially-released data on unemployment, sales tax revenues, nonfarm employment and aggregate wages, the survey will record responses from actual local business owners.
Jansen said, "...we are directly asking questions [to business owners] about their business, and they would know more about their business than anyone else, right? So, in a sense, the survey is the most direct information we have."
Jansen also shared that it may take a considerable amount of time for the Texas economy to fully recover from the Covid-19 pandemic and shut-down policies. Texas, which began a phased reopening process on May 1, 2020, is well on its way to completely reopen.
Looking to the future, Jansen shared his predictions on workplace and societal changes. "I think we are going to be much more open to working from home more frequently. I don't think offices will disappear, but I think there will be less resistance to people working sometimes from home and I think there will be less resistance to online education. Maybe for quite a while, we will continue to wash our hands and do social distancing that may help with things like the flu, as well as the coronavirus."
Click here to see the full interview