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Amcham & Chronicle Survey – The Results!

Business Disruption / Business Continuity Survey Highlights Difficulties of Companies during COVID-19 State of Emergency in Luxembourg

In the survey on Business Disruption / Business Continuity run by Chronicle.lu, in collaboration with the American Chamber of Commerce (AMCHAM) in Luxembourg during the current State of Emergency in Luxembourg as a result of the COVID-19 pandemic, 96% of participating companies have experienced Business Disruption.

7% of companies have needed to terminate staff contracts, with 33% of companies seeing staff applying for “congé pour raisons familiales – COVID19” and 34% of companies needing to terminate service provider contracts.

The full statistical results of the survey are presented below, covering Business Disruption and Business Continuity Plans, revenue fluctuations, staffing contracts and government measures / economic incentives, teleconferencing as well as perception of information published by Chronicle.lu and what AMCHAM could do to help its members, etc.

Statistical Results:

– 96% of companies responding have experienced Business Disruption (in Luxembourg as a result of the Coronavirus and the Government restrictions announced for 16 March and later).

– Just 34% of companies had a Business Continuity Plan in place before the Government restrictions came into effect from 16 March. However, 61% of companies now have such a Business Continuity Plan in place, i.e. they have taken measures that affected the daily operation of the company.

– On staff contracts, just 7% of companies have needed to terminate any permanent staff contracts as a result of the Coronavirus and subsequent Government restrictions, with another 34% may needing to do so in the future. Regarding terminating staff contracts during their probationary period, just 9% of companies have done do, with another 16% possibly doing so in the future. And just 2% of companies have needed to recruit new staff as a result of the Coronavirus and subsequent Government restrictions.

– 33% of companies have seen staff applying for “congé pour raisons familiales – COVID19”, with another 3% possibly in the future.

– A total of 34% of companies have needed to terminate service provider contracts as a result of the Coronavirus and subsequent Government restrictions, with another 20% possibly needing to in the future. 4% of companies have needed to negotiate with trade unions to agree on a social plan related to termination of multiple staff contracts as a result of the Coronavirus and subsequent Government restrictions, with another 6% possibly in the future.

– 67% of companies have applied for any other recently-launched COVID-19 economic incentive, e.g. partial unemployment, with another 8% possibly in the future.

– For 38% of companies, all their staff are now teleworking (from home), with another 12% having some or many staff teleworking. For teleconferencing tools, 36% of companies are most using Skype, 38% are most using Zoom, with 2% mostly using WebEx. Of the other 24%, Microsoft Teams is the most popular tool.

– 93% of companies have suffered from a drop in revenue as a result of the Coronavirus, either directly or indirectly, with just 2% experiencing an increase in revenue.

– A total of 64% of companies do not feel that the government is doing enough in the current crisis concerning protecting the country’s economy and jobs, with 26% feeling that the government is doing enough. Of those Government measures they feel are working well are partial unemployment; however, delays on the administrative side are frustrating. And of Government measures that companies would like to see introduced that would help their / other businesses are : support for independents/freelancers and waiver of social security contributions, also grants (not loans) to help SMEs overcome temporary revenue losses

– 50% of companies are content with the level of information provided on Chronicle.lu concerning COVID-19, the daily statistics and Government measures announced, with just 8% not content. When asked about what they felt that AMCHAM could do for members in the current crisis, the answers focus on lobbying, particularly for independents/freelancers.

– If AMCHAM/Chronicle.lu were to organise an online event, 28% would prefer it to be held at 12:30, with 26% preferring it to be held at 18:30. Concerning potential topics, the most popular were: exploring the rights of independents/freelancers and corporate governance; recovery plan after the crisis; the future involving more teleworking; Skype / Zoom / WebEx fatigue…

Chronicle.lu, in collaboration with the American Chamber of Commerce (AMCHAM) in Luxembourg, undertook a survey on Business Disruption / Business Continuity during the current State of Emergency in Luxembourg as a result of the COVID-19 pandemic: a total of 130 participants took part in the survey which comprised 23 questions, most being multiple choice and some requesting free-text answers. All responses were anonymous. Of the 130 companies participating, 85% have 1-10 employees, with 9% have 10-50 employees and 3% having 100-500 employees.

This survey looked at all sized companies (large, medium, small, freelance) concerning both Business Disruption and Business Continuity.