National report : COVID-19 impacts

A series of text blocks describing the impacts COVID-19 had on the bio-economy. Business volumes: In fall 2020 and winter 2021, approximately one-third of bio-economy companies said business levels were unchanged, more than one-third said business levels were higher than usual, and approximately one-quarter said business levels were lower than usual. Revenue: 70% of bio-economy companies expected revenues to stay the same or increase in the next six months in fall 2020. In winter 2021, that number increased to 80%. Investments: 81% of bio-economy companies expected capital investments to stay the same or increase in the next six months in fall 2020. In winter 2021, that number decreased to 78%. Top pandemic-related challenges: Lockdowns and restrictions imposed by government (cited by 42% of bio-economy companies); increased mental health concerns among staff (cited by 30% of companies); management of employee communications (cited by 27% of companies); returning to the office or workplace (cited by 25% of companies); implementation of new health and safety practices (cited by 25% of companies); providing remote IT support to employees (cited by 24% of companies). Future hiring plans: Most companies were either already hiring or planning to hire before the end of 2021, and many others plan to maintain current staffing levels. Some will be hiring to recoup lost ground due to the pandemic-related layoffs and slowdowns while others are simply continuing their planned growth and replacement hiring. 40% of companies planned to maintain current staff levels, 31% were hiring by the end of 2021, 23% planned to start hiring by the end of 2021, 1% planned to reduce staff levels and 6% didn’t know their hiring plans.

Published in Close-up on the bio-economy: National report (October 13, 2021)