COVID-19 crisis situation: businesses in the capital do not really have savings

By: Trademagazin Date: 2020. 05. 18. 10:57

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In the best case, the companies in the capital expect a crisis period of another 4 months, according to research conducted by the Budapest Chamber of Commerce and Industry, nevertheless, 60 percent of them have sufficient reserves for a maximum of 3 months. The survey, which involved 3,440 companies, examined the economic impact of the coronavirus epidemic in 21 industries, as well as the support for the crisis management package developed by BKIK.

The Budapest Chamber of Commerce and Industry has been monitoring the changes in the economic environment and the reactions of Hungarian SMEs since the announcement of the emergency situation due to the coronavirus epidemic in order to support the survival of enterprises and the minimization of their losses. In addition to the continuous analysis of the situation and the development of solutions, BKIK conducted a survey among Budapest companies to get an accurate picture of how they were affected by the crisis caused by the corona virus, how they reacted to the situation and their expectations for the future. The survey also covered what kind of state assistance companies need and how they would receive the package of economic proposals developed by BKIK. The survey surveyed a total of 3,440 metropolitan companies from 21 segments, of which 80 percent were micro-enterprises, 12 percent were small businesses, 5 percent were medium-sized enterprises, and 3 percent were large enterprises.