Number of businesses who believe they can keep trading for more than 9 months has increased to 71%, up from 57% in November 2020.
Today, 13th December ISME release the results of our ninth flash survey on COVID-19. The survey found that 66% of respondents are availing of the TWSS or EWSS, meaning wage supports remain by far the largest liquidity solution availed of by business. 11% of those surveyed are availing of the COVID Restrictions Support Scheme, down from 17% in July 2021.
- 5% of businesses have availed of the SBCI working capital scheme, up 1% from July.
- 66% of those surveyed have availed of the COVID-19 Wage Subsidy Scheme (TWSS or EWSS), up from 62% in July.
- 15% of those surveyed are owed money from the State, or Semi-State agency, of that 15%, 38% are owed between €10 -50k.
- As things stand in the COVID-19 pandemic, 71% of business believe they can continue as a viable going concern for more then 9 months, up from 68% in July 2021.
- 12% of businesses’ have outstanding debtors valued between €250k- €500k this is up from 7% in July 2021.
On a continued positive note, as you will see below, the number of respondents who believe their business can operate for more than 9 months has increased from 68% in July to 71% today. The number of respondents who believe their businesses will cease operating remains steady at 1%, as it has since November last year.
ISME CEO, Neil Mc Donnell commented:
It is great to see that confidence in business survival has increased by 3% since our July Covid survey. The dysfunctional nature of our banking system is evident from the survey, with 98% of respondents banking with AIB, BOI or Ulster Bank. The departure of Ulster Bank will effectively render the Irish banking market a duopoly. 45% of respondents are owed more than €100,000 by their trade debtors. It will be interesting to see how much of this debt is recovered as Covid supports are tapered in the New Year.