Small firms in survival mode try to outlast virus lockdowns

A guest experiences the product and ambient offered by Commune in the company of (from right) Koda Ltd chief financial officer Joshua Koh, Yap and Ernie. (File pic - The Star)

SINGAPORE: In the world of business, it’s small- and medium-size enterprises that will be worst-hit by the effects of Covid-19, and almost half fear they will fail within three months.

That’s the grim assessment in a note by the Organisation for Economic Cooperation and Development’s Centre for Entrepreneurship, which says a widespread collapse of smaller operations could have a strong impact on growth prospects, expectations and even have systemic effects on the banking industry.