The barometer monitors the evolution of turnover for over 20,000 SMEs in Romania.
“Even though the specificity of firms does not generate a 100% representativeness for the entire economy, we believe the trend illustrated by the platform is highly relevant and offers us a realistic perspective on the impact of the crisis. Looking at it, we can observe the impact of the crisis on the SMEs, the moment in which the economy is starting to bounce back and the speed of its revival”, said Radu Hasan, Co-Founder & CEO of SmartBill.
The turnover plunges in January, as a kickback after the period of the winter holidays, but returns to strong growth in February and March, which are followed by a period of relative stagnation until fall when the growth restarts. This trend remains almost identical in 2017 and 2018 too, the two years that are not exemplified in the barometer.
“In March 2020, we saw the first signs of the crisis, but not as ample as we expected. An explanation is that most firms exemplified in the survey operate in the sector of services, which are based on contracts, and the invoices are issued, in general,upon providing the services. Also, many contracts for the provision of regular services stipulate a 30-day termination clause. Considering these aspects, it is only natural to see delays with regards to the impact of the crisis reflecting on the turnover volume, which can be seen only in April and the trend is expected to continue in May as well”, Hasan also said.