latest version”Lehits’s global bankruptcy reportIt provides information on the evolution of the number of corporate bankruptcies from 2018 to 2020. The report includes Bankruptcy data from 36 markets Asia, Oceania, Europe, and North and South America Data were collected and analyzed by members of the Lehits Worldwide Network.
Lehits’s global bankruptcy report provides interesting conclusions
- The COVID-19 pandemic and its effects on the economy have been much less devastating than originally expected compared to the global financial crisis in 2018. The coronavirus crisis has proven itself to be much more predictable, despite its much greater severity, which is also confirmed by macroeconomic data for individual countries. .
- Global financial and economic data shows that the COVID-19 crisis has affected the SME sector the most. At the same time, small businesses have become the largest recipients of government aid worldwide.
- Despite the global crisis caused by the COVID-19 pandemic, according to data collected by Lehits Worldwide, the number of bankruptcies in the first quarter to the third quarter of 2020 decreased compared to the same period in 2019.
- Experts believe that government policies and emergency laws that artificially protect companies from bankruptcy are a major factor that blurs the true picture of individual economies and reduces bankruptcies.
- The decline in corporate insolvency is related to the good state of the financial sector at the time and during the crisis. This allowed liberal banking policy to reduce the cost of servicing corporate debt. In many cases, debt repayments are deferred or completely cancelled.
- Looking to the future, the forecasts of experts are less optimistic. At the end of the year, they expect a reversal of the downward trend and an increase in the number of bankruptcies in most of the countries under observation. Regardless of the evolution of the COVID-19 pandemic. This is directly related to the end of government programs to support entrepreneurs.
Stady “Lehits’s global bankruptcy reportIncludes data from Asia and Oceania: Australia, Hong Kong, India, Japan, Singapore, South Korea, Taiwan and China. In Europe from the following markets: Austria, Belarus, Bosnia, Bulgaria, Croatia. Czech Republic, Denmark, Finland, France, Germany, Hungary, Italy, Netherlands, Norway, Portugal, Romania, Russia, Poland, Serbia and Slovakia and Slovenia and Spain as well as Sweden, Switzerland and the United Kingdom.In America, the report presents data from Canada, the United States and Colombia.
You can download the full version of the global report below.
Download the report