88% of self-employed, SMBs yet to benefit from COVID-19 stimulus, shows survey
The youth of India faced major losses of jobs amid the segment. When COVID-19 pandemic striked, 59 per cent of participants detached and dismissed their employees. Many were also thrown out from their respective working companies.
A nationwide survey conducted amid self employed, micro and small businesses (SMBs) during June 10-15 shows that 88 per cent of the respondents have not yet helped the benefits of any of the stimulus packages announced by the government.
The survey was conducted by Chennai based Consortium of Indian Associations (CIA) and its 40 partner SMB associations. It showed that 73 per cent of the SMB respondents did not make any profit during the year 2020-21. There were Over 81,000 SMBs who participated in the survey. The respondents mainly included manufacturers who were around 49 per cent, service providers who were 15 per cent, self-employed constituted 14 per cent, and consultants, start-ups, traders, food and hospitality were there among the respondents. The organisers who conducted this said that the respondents represents 63 million micro, small enterprises (MSEs) and 40 million self-employed individuals in the country.