Small businesses bear brunt of COVID-19 pandemic “” report – MENAFN.COM

Small businesses bear brunt of COVID-19 pandemic “” report – MENAFN.COM

(MENAFN - Jordan Times) AMMAN "” Micro and small businesses, which make up the majority of private enterprises in Jordan, have been greatly affected by the pandemic, according to a new report by the International Labour Organisation (ILO), the United Nations Development Programme (UNDP) and Fafo Institute for Labour and Social Research (FAFO). The report analyses two rounds of surveys of more than 2, 000 enterprises across Jordan. The first survey was conducted in April 2020 and the second in February/March 2021, almost one year into the pandemic. The report indicated that enterprises throughout Jordan continue to face significant challenges. Only a small number (10 per cent) of the enterprises surveyed benefitted from pandemic response measures. The report found that four out of 10 enterprises had to laid off one or more employees. One in five enterprises confirmed that their debt grew. A quarter of enterprises surveyed had bank loans and more than a third had either supplier credit or informal credit from family or friends, the report stated. According to the report, the greatest economic burdens on enterprises during the pandemic were rent (61 per cent), wages and social security payments (51 per cent) and payment of invoices (30