News from 2020-06-17 / KfW Research

Coronavirus crisis drives shift to flexible and digital working in SMEs

The coronavirus pandemic has not only caused a drop in demand in the SME sector but also led to employee absences due to illness, quarantine and a lack of childcare. A supplementary survey to the KfW SME Panel shows that this is resulting in business disruptions for one in four SMEs.

In order to stay in business and protect their employees, many SMEs have increasingly transitioned to flexible and digital working arrangements. More than one third of them have expanded their remote working arrangements and nearly half are increasingly holding video or telephone conferences. Around 15% of SMEs want to continue remote working arrangements even after the crisis has ended.

Coronavirus crisis drives shift to flexible and digital working in SMEs

Contact

KfW Research

KfW Group

Palmengartenstrasse 5-9

60325 Frankfurt

Germany

Economic Research

Economic Research

Economic development in Germany and around the world, studies on topics relevant to society such as environmental and climate protection, demography, globalisation, innovation and sustainability, impact of KfW promotional programmes.