EY: 94% of Czech entrepreneurs see drop in revenues

(ČIA) Almost all domestic entrepreneurs (94%) in April 2020 are experiencing a decline in sales due to the crisis caused by the Covid-19 pandemic. 87% of companies anticipate a drop until the end of the year. The EY survey further showed that 28% of entrepreneurs expect a short-term drop in sales of more than 50%. Small companies with a turnover of up to CZK 50m expect their sales to decrease by up to 40%. Large companies expect a drop of 20%. In a period of economic growth, 57% of entrepreneurs prepared financial reserves for more than two months of income shortage. On the other hand, 40% of companies will not last more than two months to finance the current situation.



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