Over Half Europe's Small Firms Fear For Survival, Survey Finds

Over half the small and medium-sized companies which together provide jobs for two-thirds of European workers fear for their survival in the coming 12 months, according to a survey released by management consultancy McKinsey on Thursday, Reuters reported. The survey was conducted in August, before the current acceleration in new coronavirus cases across Europe that is forcing governments to impose new restrictions on activity and prompting speculation of fresh national lockdowns. The finding comes as warnings multiply of an impending wave of business insolvencies and as the International Monetary Fund and others urge the region’s governments to double down on state support to help companies weather the coronavirus pandemic. Read more

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