Coronavirus Responses & Impacts Bioeconomy Survey Results – March 2020

Notes

Interestingly, some readers report positive impacts in raw material prices and impact on daily routines. So, good news amidst crisis. Results hover around the 50% mark for “little impact” in financing, raw material availability, product prices. 

“Impact later” is the word on raw material prices, production volumes, sales & marketing and daily routine.

More than 40 percent expect severe impact now or later with  production volumes, raw materials prices, financing, daily routines, R&D operations , sales and marketing, and more than 50 percent expect severe impacts with partner/customer external communications and meetings. It’s worth noting that while financing fits mostly in the “little impact” department, experiences will vary greatly depending on company stage, size, geography.

Reader comments at right reflect more distress than the survey. The comment about rolling impacts (such as the impact of university closures on R&D efforts) is worth noting.

Comments from readers

• THE BUSINESS IS AFFECTED SERIOUSLY
• Not meeting with customers face to face at this time.
• FDCA partnering continues to be strong
• The national and local governments have adopted necessary measures to prevent or lessen the potential negative impacts of covid-19.
• We have several businesses. The restaurant is take out / delivery only. 10k in caterings cancelled in 2 weeks. Ethanol fractioning project on indefinite hold.
• Fully retired but am very concerned about planned and necessary travel within next 2 -3 weeks.
• This is a precarious position business-wise but we expect a better tomorrow.
• Professional services firm so no raw materials
• University shutdowns have led to the closing of labs and unavailability of graduate researchers. Cascade effect has also shut down funding operations since two key projects were shut down.
• Effect differs a lot between industries