How long can a quarantine business last?

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Every fourth businessman considers the expansion of quarantine an essential measure in the fight against an epidemic.

Ukrainian business in quarantine: how long can keep entrepreneurs out. Photo: UA.News

The Union of Ukrainian Entrepreneurs conducted a survey of domestic businesses to find out how it assesses the impact of the epidemic on its companies and the Ukrainian economy. The results showed that every fourth business under quarantine could survive for 2-3 months and not go bankrupt.

6% of entrepreneurs shut down the business altogether, mainly micro and small businesses falling into this category. Only 3% of the respondents indicated that their business would be able to work long hours under the required conditions. At the same time, the attitude of entrepreneurs towards the continuation of quarantine until April 24 is more negative – 42%. 30% of business owners are yet to be determined.

Only one in four consider the expansion of restrictive measures during an epidemic.

Approximately 60% of business owners surveyed continue to operate under restrictions (mainly large and medium-sized businesses), 29% – stopped working (specific to micro business), 51% of enterprises only 1 Can last for months.

A third of business owners (mainly micro) claim a 90–100% drop in income from the start of quarantine. These same entrepreneurs already hold up to 50% of the workforce.

Owners of small and medium-sized businesses talk about a 25–50% reduction in income compared to the pre-quarantine period and have already hired 10 to 25% of workers. Reduction in profits of large enterprises by 10–25%, where a 25% reduction of staff is expected before the end of the ban measures.

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Recall, about 75 million jobs in the tourism sector may disappear due to the coronovirus epidemic. In an online meeting organized by Saudi Arabia, the WTTC called on the G20 leaders to take decisive action to save the tourism sector.

At present, 75 million jobs are threatened. According to the information, the industry comprises a total of 330 million people.

Read: According to a survey, how many Ukrainians have lost their jobs due to the crisis.

By content: Epravda


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