Only 30% of SMEs expect to remain in operation for more than a year if the current economic situation – brought about largely as a result of the Covid-19 pandemic – persists, according to a survey carried out by the Chamber of SMEs.
An overwhelming majority – 90% – saw their sales drop by at least a quarter when compared to the same period in 2019. Though businesses deemed essential during the pandemic fared better, as one might expect, 82% still saw sales fall by at least a quarter, compared to 95% of non-essential businesses.
Source: Newsbook
Updated 15:40
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