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Global State of Small Business Report: Reflections on Six Waves of Data Collection

Global State of Small Business Report: Reflections on Six Waves of Data Collection

7 Dec 2020 - This monthly survey, by Facebook, the OECD and the World Bank, is the sixth and last in a series of monthly surveys in 2020 and provides an update on the ongoing impacts of COVID-19 on small and medium-sized enterprises (SMEs).

From May through October 2020, survey results reveal that firms were hit hard at the height of the first wave of the pandemic, with SME closure rates ranging between 20–40% across all regions in May. While some SMEs have seen a gradual improvement, the pace of recovery has slowed significantly in recent months underlying a sense of fragility and the importance of ongoing financial support for SMBs.

 

 

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