Companies Revenues Drop By 25 Percent Because Of The Lockdown, Things Will Take A Year To Improve
The revenue of companies has declined by more than 25 percent due to lockdown. It may now take more than a year for businesses to return to normalcy. This is what has been said in a survey. The survey conducted by Scripbox, a company that helps in mobilizing online investments, has reported in its survey ‘ Covid-19 and Your Property ‘ that this pandemic crisis is having an adverse impact on revenue and employment of companies.
About 67 percent of the top corporate executives, business owners and founders who were surveyed said that the companies’ revenues have already declined by more than 25 per cent during lockdown. In addition, all respondents believe that the business will be able to return to its normal course by 2021, while 22 per cent believe that it may take more than a year after the lockdown ends in returning to normalcy in the business world.
Scripbox has conducted this online survey between May 1 and May 15, 2020. About 1,200 people from the corporate world participated in the survey. Of these, 54 per cent are people working in large companies, 32 per cent working in small and medium-sized enterprises (SMEs) and 14 per cent working in startups.
The survey revealed that there has been a decline in the revenue of the companies as well as in the loss of employment. About 90 per cent of respondents believed that jobs had been cut by less than 25 per cent, while the remaining 10 per cent said that more than 25 per cent of the people in their company had been retrenched.
