Vero has released more findings from its latest SME survey, with new figures showing that 85% of SMEs experienced a drop in revenue during the COVID-19 crisis, with 53% reporting that their revenue has dropped by at least half.
It also showed that almost half (44%) had applied for the government wage subsidy to pay their employees, though on the bright side, only a minor 1% ended up needing to make staff redundant. However, 17% had to reduce their staff hours, and 24% were forced to temporarily close their business.
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