BUSINESS

AmCham survey records serious concerns

TAGS: Economy

Companies surveyed by the American-Hellenic Chamber of Commerce are asking the government to freeze their payments and debts and their general tax liabilities to the state, as most of them are being severely affected by the coronavirus epidemic.

AmCham surveyed 281 companies on March 16-20 and found that the majority of the participating companies are expecting a decrease in their projected revenues.

In contrast, it also found companies which have not been affected by the Covid-19 outbreak so far and which are looking forward to an increase in revenues. These companies are active in the fields of food and beverages, technology and the supply chain, the chamber announced on Saturday.

On top of a tax payments freeze, companies are also asking the state for a loans adjustment by postponing their loan payments or by providing them with borrowing at low or zero interest rates.

Other demands of the state include the regulation of employers’ contributions and the reinforcement of funds for the payment of employees at companies that have been forced to close.

They also said it is vital for the state to promote partnerships with telecommunication companies in order to enhance the country’s digital infrastructure and support businesses working remotely.

The survey further found that the negative impact on the economy will be visible in less than one to three months, according to respondents.

This is also reflected in the fact that more than half of the participating companies are facing severe problems in their import/export activities.

The travel disruptions, the uncertainty and the inability to make business decisions, as well as the reduced demand for companies’ products, comprise the main business problems.

Another important finding of the survey is that almost all companies believe that their planned investment decisions will be reduced while the majority are predicting that their operating markets will see a slowdown in growth.

As mentioned above, there are exceptions, especially in the fields of food and beverages, technology and health.

These companies are expecting growth not only in their investment decisions, but in their employability as well.

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