fbpx
Log in

Login to your account

Username *
Password *
Remember Me

Create an account

Fields marked with an asterisk (*) are required.
Name *
Username *
Password *
Verify password *
Email *
Verify email *
Captcha *

Majority of Algarve businesses are considering partially or totally closing their activity

Photo by Dr Photo - Majority of Algarve businesses are considering partially or totally closing their activityThe Association of Commerce and Services of the Algarve Region (ACRAL) today asked the Government for immediate measures "to save what remains of companies and jobs" in the region, which are experiencing severe declines due to the covid-19 pandemic.

In a survey carried out to its associates, it was found that 70% of the entrepreneurs consider the partial or total closure of the activity, as they do not believe “in any kind of recovery in the next 12 to 18 months.”

In a statement, ACRAL argues that “measures should be put in place to help reduce the economic recession, since individual measures do not deal with the adversities felt by businessmen”, asking government officials not to ignore the “agony” that lives in the Algarve.

“The Algarve is in a more serious situation than any other region in our country”, argues ACRAL, pointing to the reduction of the tax burden and the creation of real support for companies' treasury as measures to combat the crisis.

In a survey carried out to its associates to understand the effects of the pandemic on the regional economy, ACRAL found that 70% of businessmen consider the partial or total closure of the activity, as they do not believe "in any kind of recovery in the next 12 to 18 months".

According to the data obtained in the survey, the pandemic caused more than 91% of the surveyed entrepreneurs to be harmed in their activities in the last eight months, with a 65% drop in company revenues.

"The economic outlook is totally changed due to the pandemic, one of the biggest consequences being the increase in the unemployment rate", says the association, noting that 60% of the respondents admit having to resort to the dismissal of employees.

Among those surveyed by ACRAL, about half (51.4%) correspond to companies whose main activity is commerce, 40% relate to services and 8.6% to hotels and restaurants.

Original article available in Portuguese at http://postal.pt/

 

Pin It

You must be a registered user to make comments.
Please register here to post your comments.