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Europe's Small Enterprises Fear That They Will Close
More than half of Europe's small and medium-sized enterprises, which provide work for around two thirds of working Europeans, fear that they will close in the next 12 months.
Yazar: Tom Roberts
Yayınlanma: 23 Ekim 2020 02:00
Güncellenme: 25 Aralık 2024 00:18
Europe's Small Enterprises Fear That They Will Close
More than half of Europe's small and medium-sized enterprises, which provide work for around two thirds of working Europeans, fear that they will close in the next 12 months. The latest survey by the consulting company McKinsey showed this. The situation may be even worse, as the survey was conducted in August, ahead of the current sharp rise in the number of new coronavirus infections and the re-acceptance of large restrictions. According to Reuters, McKinsey conducted a survey of more than 2,200 companies in the five largest European economies (Germany, France, Britain, Italy and Spain). The survey showed that about 55% of small and medium-sized enterprises expect that if their sales do not increase, they will close down by September next year. With the current development of the situation, one in 10 small and medium-sized companies is expected to report insolvency within six months. The category of small and medium-sized enterprises includes companies with a maximum of 250 employees. Due to their insufficient size, they are more sensitive to cash flow crises. In Spain, for example, as many as 83% of the 85,000 companies that went bankrupt since February employed less than five people. The International Monetary Fund (IMF) warned this week that governments must do everything possible to deal with the pandemic and the resulting economic damage. According to the fund, it is important not to give up support too soon, otherwise a mistake from the period of the global financial crisis will be repeated. "Governments need to ensure that currently insolvent but otherwise viable companies stay afloat," the IMF said.İLGİLİ HABERLER
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