亚开行-新冠疫情对菲律宾商业的影响：来自企业调查的主要发现（英文）-2020.7-127页_3mb

Summary of the ADB Philippine Enterprise Survey on the Impact of COVID-19

Core Content

The Asian Development Bank (ADB) conducted an enterprise survey in the Philippines from 28 April to 15 May 2020 to assess the impact of the novel coronavirus disease (COVID-19) on the business community. The survey collected responses from 2,481 private sector enterprises, including micro, small, medium, and large firms, providing a comprehensive overview of the economic effects of the pandemic and the necessary support measures.

Key Findings

A. Business Impact

• Business Closure and Reduced Operations: Two-thirds of businesses temporarily closed, and 29% reduced operations. Only 4% maintained full operations.
• Capacity Reduction: Of the businesses still operating, 78% operated at half capacity or less.
• Liquidity Crisis: One-third of respondents had run out of cash and savings, while another third expected to do so within the next 1–3 months.
• Credit Constraints: Over half (53%) of respondents could not arrange to borrow $450,000 within a week if needed.
• Sales Decline: Sales declined significantly after the Enhanced Community Quarantine (ECQ) was implemented, with 73% of businesses reporting reduced sales.
• Employment Challenges: Employment was heavily affected, with 73% of businesses reducing staff or halting hiring. Full-time regular workers were most impacted, with 63% of firms reporting reductions.
• Wage Payments: One-third of enterprises reported reduced wage payments, with 37% citing wages and social security as the most pressing payment concern.
• Remote Work Adoption: Only 17% of enterprises planned to implement social distancing and smaller working groups, while 63% reported difficulty in providing face masks to workers.
• Supply Chain Disruptions: 54% of enterprises faced supply chain bottlenecks, and 44% reported increased costs of supplies or raw materials.
• Financial Strain: 63% of enterprises reported a decline in financial condition, with 57% requesting wage subsidies as the most common support measure.

B. Sector and Regional Distribution

• Sectoral Breakdown: The majority of enterprises were in the services sector, with the largest share in wholesale and retail trade (21.5%), followed by accommodation and food services (14.3%), other services (14.3%), and manufacturing (10.5%).
• Regional Breakdown: The National Capital Region (NCR) had the highest number of respondents (49.6%), followed by Calabarzon (14.0%), Central Luzon (9.3%), and other Luzon regions. Central Visayas (7.5%), Western Visayas (4.0%), and Davao (3.4%) had lower representation.
• Firm Size Distribution: Microenterprises (51.9%) were the most represented, followed by small (27.2%), medium (13.3%), and large (7.5%) enterprises.
• Firm Age: Most enterprises were relatively young, with 56.7% operating for 5 years or less, followed by 18.2% operating for 6–10 years, 18.2% for 16–30 years, 9.4% for 11–15 years, and 3.5% for 31 years or more.

C. Policy Implications

• Wage Subsidy: The most requested support measure was a wage subsidy (57%), with micro and small enterprises more likely to request it than large firms.
• Tax Deferral: 52% of respondents requested tax deferral as a policy measure.
• Low-Interest Loans: 36% of respondents requested low-interest or subsidized loans.
• Tax Reductions: 35% of respondents requested tax reductions or credits.
• Need for Internet Connectivity: As only 14% of enterprises sold products or services via the internet, better access to online platforms is critical for business continuity and resilience against future disruptions.
• Reopening Challenges: Businesses faced challenges in implementing health and safety measures, with limited adoption of contact tracing and canteen rationing.

Main Views

• The survey highlights the severe impact of the ECQ on business operations, particularly for micro, small, and medium-sized enterprises.
• Liquidity and access to credit are major concerns for businesses, necessitating urgent government support.
• The need for wage subsidies, tax deferrals, and low-interest loans is widespread, indicating a demand for immediate financial relief.
• There is a clear preference for online business platforms to mitigate the effects of future lockdowns.
• Reopening challenges are primarily related to health and safety protocols, with limited implementation of measures such as contact tracing and canteen rationing.

Key Information

• Survey Period: 28 April to 15 May 2020.
• Respondents: 2,481 private sector enterprises.
• Methodology: Non-standard sampling due to the emergency situation; data collected via online surveys through social media and internet portals.
• Support Measures: Wage subsidies, tax deferrals, low-interest loans, and tax reductions.
• Regional Focus: Overrepresentation of the NCR and underrepresentation of the wholesale and retail trade sector.
• Firm Size Criteria: Based on total assets (excluding land), with microenterprises having assets up to P3 million, small up to P15 million, medium up to P100 million, and large exceeding P100 million.
• ADB Support: ADB provided $1.5 billion in loans and $8 million in grants for pandemic response, including social protection, small business relief, and emergency medical supplies.

Conclusion

The ADB survey underscores the deep impact of the pandemic on Philippine businesses, particularly on small and medium enterprises. It highlights the urgent need for targeted financial support, improved access to credit, and the importance of digital infrastructure for future resilience. The findings provide critical insights for policymakers to develop evidence-based strategies to support economic recovery.