COVID-19: How are local businesses faring?

Local businesses are currently facing unprecedented challenges that will (if not already for some) impact on the way they operate now and in the future. Kantar Indian Ocean carried out a Business Resilience survey with over 100 CEOs, general managers and entrepreneurs, to analyse how this crisis is impacting on their businesses. The report was released this week — here are the major takeaways.




The top priority for 59% of the businesses surveyed is to maintain their cashflow



Work from home status 🏡

46% of the businesses surveyed have a part of their team not currently working. Of those, 40% are small companies with less than 10 employees.


Where the priorities lie ✔️

The top priorities for the businesses surveyed are: maintaining cashflow (59%), enabling remote working (30%), and developing or maintaining delivery logistics (20%).



“Nearly 40% think they will downsize their workforce in the short term”



The business impact 📉

The future looks somber for many of the businesses surveyed, with the majority projecting negative turnover, investment and recruitment in the next 12 months.


Workforce will take a hit 🧑‍💼

In the next six months, 40% of the companies surveyed think they will downsize their workforce.


What businesses need right now is support 🤝

Amidst worries about economic slowdown and decreased revenues, smaller businesses are the ones that are less satisfied with the measures taken by the government and most in need of support.



Kantar Indian Ocean, previously known as Kantar TNS, forms part of a global organisation, which is the world’s leading data, insights and consulting company.


👉 Read the full report here

© 2020 The Hive.

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