Majority of Companies Members of German-Bulgaria Chamber of Commerce Expect Considerable Drop in Sales - Survey
March 26 (BTA) - Nearly 31 per cent in a poll of 75 Bulgarian companies who have trade and business relations with, or investors from, Germany, expect a considerable drop in their sales and proceeds in 2020 due to the coronavirus situation, the German-Bulgarian Chamber of Industry and Commerce said. The poll was conducted between March 20 and 23. Bulgaria declared a state of emergency to cope with the coronavirus situation on March 13.
A little over 23 per cent of the polled companies said they still cannot assess the situation and the possible impacts. Three per cent do not expect drops after the end of the state of emergency.
The main hindrances to doing business as usual are insufficient liquidity (12.89 per cent), drop in demand (14.67 per cent), employees on sick leave (12.44 per cent), disruptions along the supply chain (11.56 per cent), travel restrictions (9.78 per cent). Some of the expected consequences are closure and termination of enterprises, and opting for new activities.
The measures companies plan to introduce due to the coronavirus situation include asking employees to go on leaves (31.13 per cent), lay-offs of part of the staff (18.87 per cent), downsizing (17.92 per cent), halving working hours (16.04 per cent).
Asked how the business can support the executive power, 30 per cent of the respondents in the poll said they are ready to come up with concrete measures, 20 per cent are willing to make donations in kind or in services, 10 per cent can take up care services to the worst affected social groups or help the national coronavirus task force, 8.75 per cent can donate protective equipment, 2.5 per cent can make cash donations. Nearly 19 per cent say that keeping jobs, making donations and paying taxes and fees are the main support they can render to the government. RI/ZH