A recently published survey run by Gastrosuisse, a hotel and restaurant industry association, suggests that 18.4% of businesses in the sector have already closed down due to the business disruption caused by the Covid-19 pandemic.
18.4% of the businesses polled reported that they had already closed with no plans to reopen.
Without financial aid 23% reported that they will probably disappear. Only 34.9% said that they were certain they would reopen.
Many also reported that they did not qualify for aid. There are certain hurdles that must be cleared to qualify for government support. One is demonstrating that revenues have fallen by at least 40%. 27.4% were unable to demonstrate this. Another requirement is that the business must not have been founded during the outbreak. A further 26.5% of businesses that were started after 1 March 2020, failed to clear this hurdle. 9.7% were deemed to have sufficient cash to survive without aid, 9.7% were too deeply in debt to survive even with aid, and another 4.4% presented incomplete applications. In the end only 21.1% of those applying qualified for government help.
A chart showing the requirements to qualify for financial aid are shown here.
The Gastrosuisse survey surveyed 3,556 members between 26 February and 2 March 2021.