ISME release the results of our fifth flash survey on COVID-19.The survey found that 68% of respondents are availing of the TWSS or EWSS, making wages supports by far the largest liquidity solution availed of by business. Just 16% of those surveyed are availing of the Covid Restrictions Support Scheme. While some 25% of respondents were availing of the pandemic unemployment payment (PUP) as a self-employed person, up from 21% in September.
- 35% of businesses have availed of a Restart Grant, a significant improvement on the 4% who had applied in September
- 5.62% of businesses have availed of the SBCI working capital scheme, up from 4%
- Only 3% have availed of a MicroFinance Ireland loan
- 3% have availed of the Credit Guarantee Scheme, an improvement on the 0.4% reported in September.
On a positive note, as you will see below, the number of respondents who believe their business will cease trading has dropped from 5% in April to less than 1% in November. The number who believe they can keep trading for more than 9 months has increased from 20% in April to 58% in November – full data in here.
Almost 63% of SMEs have yet to seek assistance from their banks. While 19% of businesses are owed money by the State. Of those, 32% are owed less than €10,000, and 58% are owed between €10,000 and €250,000.- ISME CEO, Neil McDonnell is available for interview
- ISME should be referred to as the Irish SME Association
- Full data and report can be found here isme.ie/isme-covid-19-survey-november-2020
