Family firms

Family firms and the Covid crisis

How were family firms affected by the Covid crisis?

The Covid crisis represented a significant negative shock to many firms facing abrupt decreases in their revenues and higher costs coming from public health rules.

The sudden decrease in revenues made it difficult for many firms to cover their fixed costs and maintain employment.

Government policies aimed to support firms by compensating them for unavoidable fixed costs, sharing in employee expenses, postponing and reducing tax payments.