Small Business of Moscow Region Believes the Crisis Is Not Over, but Does Not Give Up

• 26 May 2020

The results of the survey among SMB companies in Moscow Region

According to the obtained data, 77% of the companies believe, that the depth and the consequences of today's crises are a bit worse (23%) and significantly worse (54%) vs. the previous ones. This is in the first place the opinion of those businessmen, who have already experienced several crises (over 8 years in the market).

So today the businessmen face the following consequences of the crises:
  • revenues drop down to zero — 36%,
  • inability to pay rent — 36%,
  • inability to pay salaries — 33%,
  • sharp raise of materials’ and components' prices due to exchange rate fluctuations — 29%,
  • revenues reduction by more than 2 times — 27%,
  • need to cut personnel — 22%.
(multiple answers)
At the same time all businessmen (100%) believe, that today the crisis is not over yet:

However three fourth of the businessmen (73%) do not plan to fire their employees.

And nearly a half (44%) is absolutely confident, that they will not have to close their businesses.

It should be noted, that even in the hard economic situation more than a half of the respondents (55%) express trust to A.U. Vorobyov, Governor of Moscow Region (among those, who answered the question).
Also rather high level of trust is evoked by Russia’s anti-Covid-19 measures. They are supported by more than a half of the respondents (52%): 29% fully approve them, 23% — approve, but believe, they might be less tough.

The research was held in the second half of April in the territory of Moscow Region via online survey. The survey covered owners and executives of 604 small and medium-sized companies, including agricultural. The sample represents small and medium-sized companies of Moscow Region, Russia.