THE percentage of small businesses that remain closed during the lockdown dropped to 6% in August and September, according to the Department of Trade and Industry, citing the results of a limited survey.
The study had about 3,000 respondents representing micro-, small-, and medium-sized enterprises (MSMEs) nationwide.
Trade Secretary Ramon M. Lopez said that, the percentage of shuttered companies dropped from the 38% recorded during the height of the lockdown in April and May
The corresponding closure rate was 11% in June and July, he said.
Lopez also did not reconcile the survey findings with the 26% closure rate the Trade department reported for June.
MSMEs make up 99.5% of the total business establishments operating in the country, based on 2018 government statistics. The businesses account for 63% of the country’s total employment.
The Philippine Statistics Authority estimated a 17.7% unemployment rate in April, equivalent to 7.25 million jobless, against 2.27 million a year earlier. EUNICE C.
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