Over half of Europe’s smaller firms may be bankrupt within a year – McKinsey poll

More than 50 percent

More than 50 percent of small and medium-sized businesses (SMEs) operating in Europe’s top-five economic powerhouses fear they will have to close in 12 months as they’re struggling to stay afloat amid the coronavirus crisis.

The pandemic has pushed down the revenues of more than 70 percent of European companies, according to the results of the McKinsey survey of over 2,200 SMEs in five European countries: France, Germany, Italy, Spain, and the UK. 

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