One in Ten CEOs Worry Their Business Won’t Survive
April 22, 2020
More than half of CEOs around the world view the coronavirus as a significant threat to their businesses, but 11% fear that they won’t be able to survive the economic downturn. The numbers come from YPO, an organization for CEOs around the world, who conducts a monthly survey of 2,750 companies.
The hospitality and dining industries feel the most vulnerable, with 41% of CEOs saying their businesses might not survive the downturn. Nearly a third of aerospace and aviation companies, and one-fifth of retail sales and education companies expressed the same concern.
The survey found that 64% expect lower revenue to continue for at least a year, with 43% anticipating revenue to be down by more than 20% in a year’s time.