Every fifth small business may be closed due to quarantine
According to the results of an express survey conducted by the European
Business Association among representatives of small and micro-businesses:
- 18% of respondents consider closing their own business,
- 78% report losses of up to 75% of revenue,
- and only 4% can increase the company’s profit.
Among the respondents, 41% plan to adapt the wages of the staff, 33% have not yet decided, and 26% of the owners of the enterprises have kept the payments in the current amount.
It is also noted that 31% of enterprises have to reduce the number of employees, while 21% have not yet been decided, and 48% of respondents do not plan any reductions.
70% of Ukrainian companies lost half of all revenues – EBA study
- 70% of the companies surveyed reported a 50% loss of revenue.
- 18% said they suffer a decrease in income of 50-75%.
- About 10% told about the increase in income.
- 2% of companies are considering the closing option.
62% of restaurants in Ukraine were closed due to quarantine
According to Poster, cleanly operating food service establishments are
decreasing every day, and their turnover has already decreased almost four times – from 230 to 63 million hryvnias. In total, in the first week of quarantine, the income of Ukrainian restaurants fell by 73%.
Ukrainian economy will fall by 7.7% for the year
Moreover, already in 2021, the IMF predicts recovery of the Ukrainian
economy by 3.6%. The fund forecasts growth in consumer prices by 4.5% this year and 7.2% next year.
In the baseline scenario, according to which the pandemic will stop in the
second half of 2020 and its containment may be weakened, world economic
growth is projected at 5.8% in 2021 as economic activity normalizes, the IMF emphasized.
