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Survey: over 63% of the companies, the biggest cause for stress is represented by the imminent economic crisis
The biggest cause for stress is represented for 63% of the companies by the imminent economic crisis and 74% have annulled projects or orders, shows a study made at the request of Telekom Romania and published on Tuesday by the company, which shows that 50% of the companies expect delays in the payments from their clients.
‘A study made at the request of Telekom Romania shows that for 63% of the companies, the biggest cause for stress is the imminent economic crisis’ Ovidiu Ghiman, the executive commercial manager Segment Business said.
The online survey was made for Telekom Romania by the agency iSense Solutions on a sample nationally representative of entrepreneurs between 2 and 3 April.
‘At the same time, the financial impact and the diminution of the activity level represent the main issues the companies face: 79% experience liquidity issues, 74% have annulled projects or orders, 50% expect delays in payments from clients while 43% stated they have difficulties in covering salaries’ the survey shows.
The entrepreneurs wonder how their business is going to be affected if their partners, their suppliers, their clients have problems. Many of them understand now who interconnected the market mechanisms are.
‘More than 30% of the companies admit they were not prepared to manage their business in the new context and are actively looking for solutions to adapt. Although the negative impact on liquidity is the biggest in the case of small companies, the level of stress is the highest in the sector of medium companies, with pressure from clients, suppliers and employees’ the study says.
The general attitude of the entrepreneurs is rather pessimistic, with a plus in the case of medium companies after the majority of the companies were obliged by the situation to close down their activity, shows a study of the marketing research ISRA, commissioned by Telekom Romania.
The companies which answered the survey admit that the impact of the pandemics is general and no only on their business, as there is an interdependence between them and the suppliers.
‘A part of the entrepreneurs did not imagine that their business (urban transport, constructions, glass fixture, furniture commerce) may continue without the interaction face-to-face, but at present they manage very well online with their employees and to make the business go on. On the other hand, those who had to suspend their activity, intend to go back to the business as soon as the emergency state ends, most of them think of June’ according to the quoted study.
Ovidiu Ghiman describes situations where the business had to reinvent themselves on a short term.
‘During this difficult period, most companies managed to go on with their activity by a total change of the business mode, a car washing service takes the car from the clients’ homes, wash them and bring them back at the address, a law firm offers judicial consultancy instead of tribunal representation, an accounting company offers most of the time counseling on technical unemployment issues’ he says.