The COVID-19 outbreak triggered the most severe recession in decades
The economic shock has hit as hard as lockdown measures were stringent
The sectors most affected by lockdowns account for 40% of total employment
SMEs account for the bulk of employment in the most affected sectors
Impacts in some regions were particularly severe
Business creations in 2020 and 2021 vs. 2019
Bankruptcies in 2020 and 2021 vs. 2019
The smaller the SMEs, the more likely they were to close operations
The higher the exposure to lockdown measures, the higher the probability of closure
SME sales were hard-hit over 2020