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Business post-COVID-19: survey results

24.07.2020

40 percent of companies have been negatively affected by the coronavirus pandemic to a large or very large extent, while 6.5 percent of entrepreneurs have found this situation to have a positive impact on their businesses. Most respondents plan to return to normal operation in the 3rd or 4th quarter of 2020.

How did companies reduce the negative effects of the pandemic?

The companies which participated in the survey decided mainly to reduce investments (39.5%) and optimise business processes (38.5%). Over 27.5% of entrepreneurs reduced working hours, 23% reduced salaries and 16% changed their business model. 14% of respondents decided to reduce employment.

19% of the companies which took part in the survey did not implement and do not plan to implement any remedial measures in the nearest future.

In the following months, entrepreneurs intend to continue benefiting from government anti-crisis solutions, but on a smaller scale than before. 13% of entrepreneurs consider further employment reduction, while 10% of respondents consider salary reduction.

Evaluation of aid from the Anti-Crisis Shield

Nearly 40% of the companies surveyed benefited from state support to a small or medium extent. 16.5% of respondents indicate that the shields did not help at all to survive the crisis. Only 10% of companies believe that the government's anti-crisis solutions helped them to a large or very large extent. 33% of companies did not take advantage of any solutions offered to companies within the anti-crisis shields.

Return to normal operation

40% of entrepreneurs expect their companies to start operating normally later this year, while 25% of respondents indicate next year as the end of the crisis. 22% of the surveyed companies claim that despite the coronavirus pandemic they operate as before.

The survey "Business post-COVID-19" Crowe, Contract Administration and TGC Corporate Lawyers was conducted between June 4 and July 6, 2020 on 109 respondents.

 

Learn more: Return of the salary subsidies

 

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