The Covid-19 Impact On Philippine Business: Key Findings From The Enterprise Survey
The Asian Development Bank conducted a Philippine enterprise survey from 28 April to 15 May 2020 to gauge the impact of the novel coronavirus disease (COVID-19) on the business community. Questions focused on production, finance, workforce, supply chains, and other issues. The survey also asked about the support measures needed from government, and the measures enterprises would take at reopening (e.g., social distancing in the workplace). Liquidity was a serious concern for most enterprises as working capital became scarce. One-third of respondents had run out of cash and savings by the time of the survey, while another one-third expected to run out over the next 1–3 months. Constraints on additional credit were also binding: just over half (53%) could not arrange to borrow ₱50,000 within a week, if needed.