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Self-Employed in Need – Sales in Corona Crisis Broken Down | message

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FRANKFURT (dpa-AFX) – According to a survey, the corona crisis brings self-employment to existential need. According to this, 90 percent of sales declines. More than half of the self-employed have lost more than 75 percent of their earnings, and a third have no income at all, as can be seen from a non-representative lightning survey published by the state-owned Frderbank KfW on Tuesday. Due to the slump in sales, the self-employed could often no longer meet their running costs.

About a third of the respondents said they could only bridge a month with their own resources. Another 20 percent can hold out for around two months. According to this, 32 percent of the self-employed can remain solvent for longer than three months, and only 16 percent can make ends meet for half a year.

There are also other problems: less time for business because of childcare at home, broken financing, loss of employees, problems with supply by suppliers and difficulties in reaching offices and authorities.

“The corona crisis poses enormous challenges for founders and young companies in particular – the significant drop in sales leads to great livelihoods and the question of the continued existence of the company,” said KfW chief economist Fritzi Khler-Geib.

Eight out of ten self-employed (79 percent) therefore want to use state aid offers, such as one-off grants, short-time allowances, tax deferrals or KfW corona assistance loans, or have already done so.

Despite the problems, many people willing to found a company stick to their plans. For only two percent of those surveyed, the current situation is reason enough to break the path to self-employment. 429 self-employed and 167 prospective entrepreneurs were interviewed.

/ mar / DP / jha



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