Saturday 03 December 2022

Some 13,000 companies that had coronavirus support stop operating

Cafes were closed this winter. Photo:

Some 13,000 companies which received some form of government support to cope with the impact of coronavirus had stopped operating by the end of March, national statistics agency CBS said on Friday.

Of the 586,000 companies to benefit from coronavirus support, over 2% closed their doors for good, compared with 9% of companies which did not claim help, the CBS said. Bankruptcies, currently at a record low, accounted for a low proportion of the number of firms which stopped trading.

Tozo, the support package for freelancers and the self-employed, was requested by 300,000 people, of whom just 1% gave up working, while 3% of firms that requested deferred tax payments closed down.

In the catering and hospitality industry, 3% of companies with government support shut up shop, compared with 17% of those without. In total, 73% of hospitality industry firms requested some form of government help to get through the crisis.

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