This essay has been submitted by a student. This is not an example of the work written by professional essay writers.
Economy

CBK cautions 75pc fall on SMEs

This essay is written by:

Louis PHD Verified writer

Finished papers: 5822

4.75

Proficient in:

Psychology, English, Economics, Sociology, Management, and Nursing

You can get writing help to write an essay on these topics
100% plagiarism-free

Hire This Writer

CBK cautions 75pc fall on SMEs

A survey from the Central Bank of Kenya (CBK) reveals that about 75 percent of small and medium businesses in the country will face collapse if they do not get fresh funds from Banks or equity partners by the end of June.

Impacts of social distancing, the curfew, and the closure of businesses like restaurants and bars have largely influenced consumer spending, job cuts, and unpaid leaves as firms try to cut costs.

“There was a survey done at the end of April, and that survey indicated that three quarters do not have cash beyond two months. That means by the end of June, three-quarters of the SMEs are already on the ropes and will be gone because they do not have the cash to keep the lights on,” said Dr Njoroge.

The country has so far recorded over 1600 cases of covid-19. And to limit the spread, the government has suspended commercial flights among other measures which have seen businesses struggle in the falling economy.

“Most businesses would like financial support from the government in the form of grants or cheap, accessible loans to help them pay salaries,” Chief executive of Kenya Private Sector Alliance (Kepsa), Karole Karuga.

  Remember! This is just a sample.

Save time and get your custom paper from our expert writers

 Get started in just 3 minutes
 Sit back relax and leave the writing to us
 Sources and citations are provided
 100% Plagiarism free
error: Content is protected !!
×
Hi, my name is Jenn 👋

In case you can’t find a sample example, our professional writers are ready to help you with writing your own paper. All you need to do is fill out a short form and submit an order

Check Out the Form
Need Help?
Dont be shy to ask