A new study by the Bank for International Settlements offers a grim reminder of the significance of the COVID crisis for businesses.
The research describes in a formal way the length and depth of the COVID crisis impact we can expect on businesses:
It may take up to two years before we see the peak of businesses going bust. Even if until now we may not have seen that many bankruptcies it's because public policy and the build up of debt have supported businesses and delayed the inevitable in the short run.
Meanwhile the pressures continue to build up and businesses become increasingly financially vulnerable and may be forced to fold further down the road.
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