Covid-19 Crisis: Very Low Reserves at Firms in Budapest

Enterprises in the Hungarian capital calculate with at least another four months of crisis period, according to a research prepared by the Budapest Chamber of Commerce and Industry. However, 60% of them have no more than three months of reserves.

BKIK conducted this research among 3,440 businesses to examine the economic impact of the coronavirus disease in 21 industries and the degree of support for the crisis management proposal package developed by the Chamber.

The Budapest Chamber of Commerce and Industry has been monitoring the changes in the economic environment and the reactions of Hungarian SMEs since the announcement of the emergency situation due to the coronavirus epidemic in order to support the survival of enterprises and the minimization of their losses. In addition to the continuous analysis of the situation and the development of solutions, BKIK conducted a survey among Budapest companies to get an accurate picture of how they were affected by the crisis caused by the corona virus, how they reacted to the situation and what their expectations for the future are. The survey also covered what kind of state aid companies need and how they would receive the package of economic proposals developed by BKIK.