What was the greatest concern of enterprises during these difficult times?
The effects of the pandemic have been felt in economic sectors and in no less than small and medium sized enterprises and research by the Malta Chamber of SME’s shows their greatest concerns revolved around a sharp drop in sales.
The online research was carried out among 360 small and medium sized enterprise owners, some of whom had to close down during the worst of the pandemic crisis.
A third of them said that sales as compared to the same period last year had decreased by half while a further said they had experienced a 90% drop. The greatest drop was in what are regarded as non-essential products.
Asked how they felt able to cope with the current situation some said that for a further year or more while 33% said for six months and 22% said for three months.
Following the drop in sales being the greatest concern this was followed by the uncertainty of being able to meet the wages of employees.
13% said they had to lay off employees while 21% did not respond to this.
Just under 75% said they qualified for Government support and the majority said this support had helped them through the difficult period.