Bleak Future for Chicago Businesses?
I’m saddened that the effects of the Covid-19 pandemic are far and wide and almost universally negative. Of course my heart goes out to those suffering and dying from this terrible disease—I wish all who suffer to get the relief and comfort they need. The adverse effects of the pandemic have also extended beyond just the direct health challenges. There is hardly any part of our lives or culture that haven’t been affected.
As a part of the Chicagoland business community, I am well aware of the effects that the pandemic has had on the business community. Large cities like Chicago have been hit especially hard. In addition to the pandemic shutdowns and continuing restrictions, there has been unrest that has left property damaged and scared off customers. There are long term concerns that business office spaces will change and businesses that were dependent on traffic from working professionals will be permanently reduced.
Here are some updates in the Chicago Business world:
Chicago has released new dining rules for city restaurants. The currently allowed indoor capacity of restaurants is 25% capacity indoors. The update was for tent and dome dining requiring 50% open air structures. This is going to be a tough season for restaurants.
The Chicago Winter Dining Challenge was a partnership between the City of Chicago and design firm IDEO to find options to extend outdoor dining through the colder weather. There were over 600 submissions, including dining in CTA cars (gross) and wider use of carhops like Superdawgs. Submissions are still being accepted, with a $5000 award being given to 3 winners.
Crime hits new highs. Murders are up 52%. Shootings and other violence are a tragedy in themselves, but combined with the effects of the pandemic, it feels like the universe is just piling on. This will likely cause businesses and individuals to leave the city and take their jobs with them.
Business hiring is making a slow recovery. Job openings in Chicago are up 3 percent for consecutive months but down 19% year over year. Glassdoor recommends considering remote jobs, as those listings are up 60%.
Up to 90% of Chicago’s independent music venues could close according to music critic Jim Rogatis. The article includes a link to a petition asking political leaders for financial support as a bridge to when Covid restrictions are eased.
Eventually the pandemic will ease and things will return to some semblance of normal. However it’s important that we try to reduce the damage as much as possible. Support Chicagoland businesses!