Many of our customers are self-employed, freelancers or run a small business. We asked almost 4,900 of them how the Corona crisis is affecting their business.
Overall, over 80% worry about their economic existence.
We have compiled further results for you below.
Small businesses and the self-employed in the corona crisis: The two sides of #flattenthecurve
In connection with the corona virus you have probably heard the term “flattened curve”. This means nothing less than reducing the number of new infections as much as possible and extending the time in which the virus spreads as long as possible.
Because this time is urgently necessary in order to adequately provide patients with severe symptoms and save lives. For this reason, politics has severely restricted public life.
For companies, however, the effects of the flat curve and the stretched period are one existential threat. Especially for many Individual and small businesses with up to 10 employees. In UKy alone there are over two million of them.
From March 10th to 15th, we asked 4,883 small companies (max. 10 employees) from a wide variety of industries in our survey.
The results of the CWT Advertising survey
The Corona Crisis as a Threat to Existence?
During the survey period, the proportion of respondents who perceive the effects of the corona crisis as an existential threat to their company rose steeply. At the beginning, 48% estimated the coronavirus as an “existential danger”, this number rose to 77% within the end:
Almost all companies fear losses
Over 80% of all self-employed and company owners surveyed assume that the Corona crisis will reduce sales:
Which sectors particularly affect Corona
Due to the massive influence of the corona virus on our everyday life, our habits and our culture, all industries are affected – but some are particularly hard. Above all the gastronomy as well as the event and culture industries.
The self-employed are already experiencing losses
On the one hand, the fact that the corona crisis is hitting small businesses and freelancers shows the expectation that sales will decline in the future. In the same way, however, many of the respondents already recorded a drop in sales through Corona in the last four weeks before the survey:
Our contribution: How CWT Advertising would like to support you
We know from the survey and from numerous discussions with our customers that many of you are also badly affected by the Corona crisis. Our thoughts are entirely with you and we are doing everything we can to support you as best we can. Three very specific ad hoc measures are:
Deferred payment for existing CWT Advertising customers
New Facebook group
Many CWT Advertising users already have valuable experience in exchanging with z. B. the tax office or the bank and have found new, creative ways to deal with the crisis. These experiences can be incredibly valuable for other self-employed or companies! We invite you to exchange ideas on these topics in our Facebook group.
Constantly updated facts and support
Since the events are currently often overturning, we will keep you up to date as much as possible. On the one hand via Facebook, Twitter and Instagram, on the other hand via our Corona Facts page, which is updated several times a day, and support for self-employed and small businesses.