CRIF: a third of Czech businesses hit by restrictions

Government measures to contain the spread of the coronavirus have affected 90,000 to 127,000 businesses and 145,000 to 299,000 entrepreneurs directly or indirectly, according to the results of a poll conducted by the Czech Credit Bureau(CRIF).

A third of Czech firms and the same share of entrepreneurs are affected directly, meaning they were forced to close down their operations.

The worst hit is the Karlovy Vary Region, where up to 44 per cent of firms and 42 per cent of entrepreneurs were hit by the restrictions.

The hardest hit are the smallest companies with an annual turnover of up to one million crowns. Another 37,000 (10 percent) companies and 154,000 (17 percent) entrepreneurs have been partially affected.

They were not forced to close down their operations, but sustained losses due to a significant drop in sales as a result of the restrictions on the movement of persons.