A analysis performed throughout Cyprus by POVEK, the Cyprus Confederation of Skilled Craftsmen and Shopkeepers, in cooperation with the Financial institution of Cyprus and the Retail Zoom Firm on the results of the pandemic throughout the interval March 2020-December 2021, indicated that small-to-medium firms suffered a discount of their turnover, of their earnings, and liquidity throughout the Covid-9 interval with out, nevertheless, an essential discount of the variety of their staff.
Moreover, based on the outcomes of the analysis, most firms proceeded with modifications to the way in which of their operation (on-line gross sales, digital upgrading and introduction of recent merchandise/companies), whereas their majority (83%) imagine the state’s help measures are inadequate.
In accordance with an announcement by POVEK, 541 small-to-medium firms participated within the analysis by finishing a questionnaire. Some 70% of those firms make use of two to 9 folks, 18% just one individual, and 12% from 10 to 49 folks.