In a release from the National Association for Catering & Events (NACE), the organization identified two recent surveys pointing to the pandemic-induced failure of its industry. Nearly a third of Madison-area businesses responding to a community partners business survey by the Greater Madison Chamber of Commerce say that they’re likely to close by June unless something is done. The organization states the situation is even more catastrophic for the event and wedding industry, a key contributor to Dane County’s $2.3 billion tourism industry.
Another survey released by the area chapter of NACE shows that over half of all responding Dane County venues and event-related businesses reported they lost 75–100% of their 2020 revenues. Of the respondents, 47% report they have already or will close their doors within eight months if no changes are made to COVID-19-related closure ordinances. Only 18% of respondents stated they’ll likely survive for the foreseeable future.
