February 2021 | Vol. 18 Iss. 02
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HOLLADAY BUSINESS SURVEY
SHOWS THE STRUGGLE OF LOCAL COMPANIES By Zak Sonntag | z.sonntag@mycityjournals.com
L
ocal businesses in Holladay continue to toil against depleted revenues and diminished operating capacity while striving to adapt business models to the harsh economic environment produced by the still-menacing coronavirus pandemic, according to a new business survey released to the public in January. The survey, commissioned by the city and conducted by Y2 Analytics, helps community leaders understand the struggles facing local business and offers direction for the city as it seeks to prop up local companies in the hopes of staving off bankruptcy and job loss in a city known for its unique commercial makeup. The survey confirmed many anticipated worries while also providing a sense of how challenges have changed for businesses since the last survey one year ago in 2019. As expected, a majority of companies polled expressed difficulty making payroll and rent. “Most business said they’re experiencing large to moderate negative impact from COVID,” said staff leader Holly Smith, who worked closely on the survey. “Revenue is notably reduced, and many are still experiencing reduced operating hours. Operating capacity is also diminished because of physical distancing [and related factors],” Smith said. The survey revealed that companies are making adjustments to accentuate their remote operations and online offerings in an attempt to adapt. Although the changes are harder to make seamless in some industries than others.
Mudita Yoga studio hallway sees little traffic during the pandemic. (Photo courtesy Carrie Coppola)
Mudita Yoga, a wellness studio in Holladay, has been ravaged by the loss of face-to-face clientele, as the requirements for physical distancing and consumer fear about shared space during a pandemic has depleted patronage to low levels. “People are still afraid to come out. We’ve dropped our schedule to less than half. We’re doing online classes now, but
it’s very different feeling than in person especially for what we do in yoga,” said Carrie Coppola, owner of Mudita. According to the survey, a host of companies in Holladay are finding similar struggles. According to Smith, “Our hardest hit sectors are the personal services—restaurants and salons, child day care and dogContinued page 8
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