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22 Jun 2020

Small, medium businesses feel brunt of lockdown pain: survey

Author: admintech | Filed under: World

Small, medium businesses feel brunt of lockdown pain: surveySmall and mid-sized businesses around the world are being hit hardest by the impact of COVID-19 lockdowns and about a fifth say they risk shutting down permanently within three months, a survey by the International Trade Centre (ITC) showed on Monday. “The lockdown has led to major revenue drops for most and the survival of many is at stake,” the 176-page report released by the Geneva-based ITC, a joint agency of the United Nations and the World Trade Organization. In its global business impact survey of thousands of companies in 132 countries between April and June, nearly two-thirds of micro and small firms said they were “strongly affected” by the impact of lockdowns versus 43 percent of large ones.