New research from Chambers Ireland shows that the tourism, hospitality, entertainment and local services sectors all show signs of having been particularly negatively hit by the outbreak of Covid-19.
Chambers Ireland noted that counties along the Atlantic Economic Corridor are feeling the impact of this "economic calamity" more keenly than in other regions.
Only 15% of respondents to Chambers Ireland's survey said their business operations have not been directly affected by Covid-19 restrictions, while 36% have closed entirely.
Today's research shows that tourism is the most affected sector, with over half of tourism businesses predicting that their 2020 revenue will be about a third, or less, of what they had been expecting for the year.
The hospitality sector is being hit by the double effect of reduced consumption within the economy as a result of the Covid-19 restrictions and the challenge of operating businesses within the context of physical distancing when the restrictions are lifted.
The entertainment, culture and arts sectors are similarly challenged by the necessary public health restrictions.
Chambers Ireland said that for many of these businesses, the capacity restrictions on their venues sees their business opportunities being severely limited for the duration of the crisis.
Local services - which includes the likes of dry-cleaners, gyms, hairdressers - are tied to local areas as a result of the nature of their business and so are often limited in their capacity to maintain operations through work practice changes such as remote working.
The research also reveals that half of all businesses will need at least two weeks to reopen, while 25% will need more than a month.
Chambers Ireland's chief executive Ian Talbot said the best way these sectors and local economies can be supported and allowed to recover is to ensure the towns, cities and regions become even better places to live, work and do business.
"It is essential that within the next Programme for Government there is a high impact and well-funded response to support these places and regions to economically diversify, during what will be a very difficult few years to come," Mr Talbot said.
He said such a response should include the delivery of investment in regional infrastructure to support economic growth, more supports for the tourism sector and a national funded strategy to ensure that town centres and high streets, where so many of these businesses are based, are supported to thrive.
