Over 50% drop in trade after first Covid-19 restrictions lifted

Companies that reopened under the first phase of the lifting of Covid-19 restrictions are experiencing less than half their usual level of business activity for this time of the year, a new survey has found.

The survey of businesses across the country also found that a quarter of respondents expect to have earnings that will be 70% lower than usual over the next three months.

The data, gathered by Chambers Ireland, also shows that smaller firms have seen their revenue reduced more significantly than larger ones.

“Our research clearly shows that the hard work of restarting our economy is only beginning,” said Ian Talbot, chief executive of Chambers Ireland.

“Even in the absence of further waves of Covid-19 there is an immense body of work to be done to restore economic normality.

“The State will continue to have a large part to play in this as, despite all that has been done, much more government action needs to occur.”

More than 1,300 companies responded to the survey, which was carried out between 28 May and 2 June, prior to the most recent easing of restrictions and the granting of permission for the reopening of all retail outlets.

Overall, the results show that business activity levels have been extremely low for firms that reopened under Phase 1, beginning on 18 May.

By Will Goodbody
Business Editor

Message Us on WhatsApp
Visit Us On TwitterVisit Us On Facebook