Among responding enterprises, 56% reported closing at some point during the pandemic in 2020

The hardest hit sector within Services was the Accommodation and Food Service Activities sector where 90% of firms had to close at some point.

Arts, Entertainment & Recreation and Other Service Activities sectors had 80% or more of responding enterprises closing at some point in 2020.

More than three quarters (78%) of Construction firms closed at some point.

Less than half (45%) of Finance and Administration enterprises closed (enterprises in the Finance sector, Real Estate sector and Administration sector) compared to 51% of Industrial enterprises. 

Over a quarter (27%) of Professional and IT enterprises (enterprises in the Professional, Scientific and Technical sector and the Information and Communication sector) also experienced closures. See Figure 35.4.

Link to release: Business Impact of COVID-19 on SMEs 2020

More than 80% of responding enterprises in the Accommodation & Food Service Activities sector reported that their 2020 turnover was less than expected

More than 80% of responding enterprises in the Accommodation & Food Service Activities and the Transportation & Storage sectors reported that their 2020 turnover was less than expected. This was also true for more than 70% of respondents in the following sectors: Construction, Other Service Activities and Arts, Entertainment & Recreation.

In the Professional & IT sectors, 55% of respondents reported that their 2020 turnover was less than expected, and 45% reported it was either as expected or more than expected.

In the Wholesale & Retail Trade sector, 15% of respondents reported that their 2020 turnover exceeded expectations. See Figure 35.5

Link to release: Business Impact of COVID-19 on SMEs 2020

January 2021 had the highest number of enterprises availing of State support since June 2020

Of the 242,681 enterprises in the base population in 2018, 61.7% availed of the Wage Subsidy Scheme or the Pandemic Unemployment Payment at least once between March 2020 and January 2021. The percentage of enterprises with personnel availing of COVID-19 income support was 46.6% in January 2021. The uptake of support peaked in April at 57.2% compared to a low of 30.5% in September.

More than half (57.6%) of enterprises had associated persons in receipt of the Pandemic Unemployment Payment (PUP) at least once between March 2020 and January 2021. Over 100,000 enterprises had personnel in receipt of PUP in January 2021, the highest since June 2020.

More than one in five enterprises (22.4%) had received a payment via the Wage Subsidy Scheme (TWSS/EWSS) in the period March 2020 to January 2021. In January 2021, 10.7% of enterprises had personnel availing of WSS compared to the peak of 16.4% in July 2020. See Figure 35.6.

Link to release: Business Signs of Life Series One: State Supports

More than one in five enterprises had all personnel in receipt of PUP in January 2021

Of the 242,681 enterprises in the analysis, 21.5% had all personnel in receipt of PUP in January 2021. April 2020 had the highest proportion of enterprises in which all personnel were in receipt of PUP at 29.5% while September 2020 had the lowest (10.3%).

In the Transportation & Storage sector, which includes taxi operators and hauliers, the rate of enterprises that had all personnel in receipt of PUP peaked in April 2020 (45.9%) before falling to a low of 29.1% in September 2020. In January 2021, 39.3% of enterprises in this sector had all personnel in receipt of PUP. 

The Other Service Activities sector, which includes hairdressers, yoga instructors and funeral services among others, had their highest proportion of enterprises with all personnel in receipt of PUP in April 2020 at 45.4%. This fell to 10.5% by September before increasing to 40.0% by January 2021. See Figure 35.7.

Link to release: Business Signs of Life Series One: State Supports