The Chambers Ireland Network has launched its latest Covid-19 Business Community Survey. It seeks to quantify the economic impact COVID-19 is having on businesses around the country and looks at the supports that will be needed to reboot the economy.
Our last survey, which was published on the 9 April, with over 1110 responses, found 84% of businesses expect revenue to decline by in excess of 25% in the next three months, up from 73% two weeks earlier. 25% of those who responded expect revenue to collapse by more than 90%, with one in five businesses laying off all staff. For those who have closed their operations entirely, most expect to remain closed for at least 12 weeks. Fears about cashflow and liquidity were the greatest concerns of micro-enterprises (<10 employees) with closures and staffing being a concern for larger businesses across many sectors.
With lockdown measures due to expire on the 5 May, Chambers Ireland seeks to start a conversation with businesses on how local economies can be supported to re-open. If your business has been affected by Covid-19 please let us know your experiences here.
We really appreciate your time in completing this survey.
Be Safe, Be Connected.