Highlights of the survey include:
- Almost 80% of respondents had assisted their clients with EIDL or PPP loan applications.
- Almost 40% of respondents expected no revenue change, while 57% expect a revenue decline between 1% and 30%.
- 35% responded that their firm revenue and client engagements were not significantly impacted, while 46% thought the recovery will take longer than 6 months.
- The top 3 pandemic-related CAMICO resources most utilized were (in order):
3. Pandemic-Related Engagement Letters
- The top 3 challenges facing firms related to the pandemic were (in order):
1. Understanding and staying current with the legislation and guidance on economic relief measures
2. Helping clients with the Paycheck Protection Program (PPP) loan forgiveness process
3. Managing client expectations
- Over 95% of respondents indicated they are likely to recommend CAMICO.
CAMICO always encourages our policyholders to provide comments, concerns, ideas and questions by emailing us at firstname.lastname@example.org or calling 800.652.1772.