Coronavirus froze business for 40% of Montenegrin companies

by   CIJ News iDesk VII
2020-05-22   12:21
/uploads/posts/167e510fc053930d926c84190c53a0ebcf5800b7/images/savings-2789137_640.jpg

During the crisis caused by the novel coronavirus, more than 40 percent of companies in Montenegro halted business, 35 percent were operating only partially operating, while 23 percent of them were fully operational. Roughly 13 percent of all companies employed home office solutions to keep work moving. The figures are the result of research conducted by the Union of Employers of Montenegro MEF, in cooperation with the EBRD.

Worst hit by the crisis were micro and small enterprises, while large companies showed significantly greater resilience to the effects of the crisis. The MEF survey shows that 90 percent of companies in Montenegro did not lay off workers during the lock down.