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More than half of entrepreneurs avoided losses due to COVID-19

More than half of entrepreneurs avoided losses due to COVID-19
Photo: pixabay.com

Otkritie Bank experts decided to assess the impact of the pandemic on business. As the survey showed, despite the economic recovery, it is too early to talk about the stabilization of the situation.

According to the bank's press service, both the owners of individual entrepreneurs and heads of small and medium-sized businesses with revenues of up to three million rubles a year and working in cities with a population of up to 100 thousand people took part in the survey. Researchers analyzed the situation from April to June this year.

The study found that 23% of companies are experiencing difficulties even now. For many, orders have decreased, debts are growing. Only 19% of respondents were able to say that their business was stable, while 7% said they were profitable.

More than 60% of those surveyed reduced their profits. Only 40% of companies expect an increase in turnover by the end of the year. At the same time, about 65% said they were able to avoid losses in the second quarter and were even able to end the period with a profit.

The share of companies stopped working in May fell from 33% to 21%. At the same time, about 9% of businessmen moved to another niche. Now the mood in general has become more optimistic: the share of companies that cannot predict their prospects for the next six months has decreased (from 39% to 31%), and the share of those who are going to develop and expand their business has increased (from 18% to 24%).

October 1: current information on coronavirus in the Far East
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