One-third of small businesses lost more than 50% of their income

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One-third of micro and small businesses report 50-75% of income losses due to the coronavirus lockdown. Businesses also report a significant increase in receivables, European Business Association reports.

Another 44% suffered up to 50% of revenue losses, and 7% of businesses are considering closing. At the same time only 14% did not have any changes in work or even increased their income.

It will take one year for 38% of entrepreneurs, two or more years for 25%, and about six months for 19% to reach the pre-lockdown of development. Only 3% reported that the level of development of their business has not changed.

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