COVID-19 has affected 90.3% of businesses in Costa Rica

QCOSTARICA – According to the results of a consultation section that has been incorporated into the Directory of Companies and Establishments (DEE), in order to know what have been the main effects of the pandemic, 90.3% of companies have been affected by the COVID-19, The highest percentage of companies reporting some impact belongs to the commerce sector (91.1%), followed by the service sector (90.6%).

The consequences most cited by companies were reduced sales or revenue; and the increase in operating expenses (with 83.9% and 60.2% respectively), behavior which does not differ according to the sectors of activity. The other less cited consequences of COVID-19 are, in order of importance, the reduction in working time, the reduction in the wage bill and the introduction of telework.

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In the construction sector, 35.7% of companies recorded a reduction in payroll, being the sector with the highest indicator in this category. For their part, 23.1% of companies in the service sector recorded a decrease in the working day due to COVID-19 (the highest indicator among the sectors).

Help or benefits

Regarding companies that have received some type of assistance or benefit due to the situation generated by COVID-19, 88.8% indicate that they have not received any benefit, while 5.3% did not respond and only 5.9% said they had received any.

The main benefit received was the readjustment of loans, followed by adjustments in the payment of rents for commercial premises.

For its part, the sector that recorded the highest percentage of having received some type of support or advantage was the services sector, followed by the manufacturing sector.

Conservative view

The DEE consulted companies on their perception on three topics: turnover or income, payroll and economic activity: as to what will happen to turnover and income in the short term (end of 2021), 48 .8% indicated which would remain the same as at time of query. This situation was similar in all sectors of activity.

Regarding the anticipation on the size of the payroll for the 12 months following the request, 83.1% of companies expect it to be maintained; only 9.0% hope to increase it, 2.5% will reduce it and 5.4% did not answer.

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Finally, when asked what they think will happen to their economic activity if the COVID-19 health emergency continues within 12 months of the query, 79.3% expect it remains the same, while 7.2% think it will close, only 2.1% will change activity and 11.4% did not answer.

Source: Revista Summa

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