Two-thirds of small and medium enterprises do not see their business surviving beyond this year, under the circumstances brought about by the COVID-19 pandemic, according to “shocking” survey results.
The biggest concern of 230 businesses that participated in a survey by the Malta Chamber of SMEs is the low sales levels (26%). This concern was followed by worries about cashflow (17%), and difficulty in collecting payments (15%).
Asked how long they think their business can survive in the current situation, taking into consideration the government’s aid, only a third said they believe they will last longer than 12 months.
A total of 13% said they will only last three months, while another 28% hope they will survive until summer.