Fb, OECD and World Financial institution are finding out the consequences of Covid-19 on micro-businesses
The pandemic continues to affect businesses of all sizes, but those owned and operated by a single person are particularly hard hit, according to the fifth edition of the Global State of Small Business Report, released Thursday by Facebook.
The social network is involved in an ongoing research collaboration with the Organization for Economic Cooperation and Development and the World Bank. In September, over 25,000 small business executives in 50 countries were surveyed for this part.
- Micro-businesses closed at a higher rate than their larger counterparts, partly due to their higher concentration in industries prone to lockdowns such as business B. Retail and Services.
- In the five surveys so far, an average of 49% of small businesses were run by women, compared to just 26% of businesses with 10 or more employees.
- Overall, small and medium-sized businesses continue to face an environment with lower demand and limited sales opportunities. 56% of operating SMEs recorded lower sales in September compared to September 2019.
Facebook, OECD and the World Bank wrote in the report: “As finance and employment support programs decline, the evidence gathered in this report, along with the mainstream literature, suggests that micro-enterprises may be particularly vulnerable compared to their larger counterparts . How governments and institutions deal with the issue of financial assistance in the coming months is likely to have a significant impact on the SME sector, especially these smaller businesses. "