93% of Mexican companies, without support to get out of the economic crisis

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Large companies request tax deferral, tax cuts, and payroll subsidies, while small companies demand deferment of payments for services.

93.2% of Mexican companies have suffered some type of economic damage since the start of the economic crisis derived from COVID-19, but only 7.8% have received support to resolve the situation, the Institute revealed this Thursday. National Statistics and Geography (Inegi).

The survey on the economic impact generated by the pandemic, carried out between May 7 and June 12 with a sample of almost 5,000 companies, revealed that 59.6% of companies carried out temporary closings due to quarantine. .

The majority of those who stopped, 46.7%, did so for more than 21 days and, above all, they were micro-enterprises (93.4%).

According to the survey, 93.2% of companies have suffered economic damages due to the SARS-CoV-2 coronavirus pandemic, which has left 362,000 confirmed patients and 41,190 deaths in the country, while 6.8% have not have been affected.

Of the companies affected, 91.3% have had a decrease in income, 72.6% have suffered a drop in demand for their goods or services and 33.9% have suffered due to the shortage of products.

According to the Inegi, the average percentage of decrease in the income of the surveyed companies is 56.3%, that of the drop in demand is 54.6% and that of product shortages is 44%.

The strong impact of this crisis on companies contrasts with access to support, since only 7.8% of companies have received any help from the Government or from business and social organizations, while 92.2% have not. accomplished.

Of those that received support, 54.3% were cash transfers, 11.8% deferment of loan payments, 8.9% access to new loans, 8.6% deferment of payments for services, 8 , 6% loans with subsidized interest rates and 6.7% fiscal supports and payroll subsidies.

Regarding the policies that must be carried out to overcome the crisis, the opinions of companies differ according to their size.

The large companies request tax deferral, tax cuts and payroll subsidies , while small companies betting deferral of payments for services, cash transfers and access to credit.

60.2% of companies have applied operational actions during this crisis, while 39.8% have not.

Above all, they have designed home delivery of orders (45%), special promotions (33.8%), work from home (32.6)% and internet sales (29.6%).

After the economic closure of the non-essential economy during April and May, the Government of Mexico gave the green light to a reopening plan according to the situation of the epidemic in each state, although the disease continues to spread strongly.

Source: forbes.com.mx

The Mazatlan Post

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