Coronavirus: Hong Kong companies on edge of collapse wonder how they will survive 2-month extension of social-distancing curbs
- More small and medium-sized firms will be forced to close down as they have no hope of doing business, warns Hong Kong chamber chief
- ‘Just like that, we’ve been asked to stop business for four months,’ reads one post on social media account of Tsim Sha Tsui beauty centre
Business chambers warned on Tuesday that the curbs, along with a lengthened ban on flights from nine countries, would not only deal a blow to the city’s reputation as a global financial centre, but also trigger a wave of shutdowns and lay-offs.
Speaking a day before the finance minister unveils his budget, they called on the government to fork out more aid, especially for small and medium-sized businesses (SMEs).
“It is really difficult for most retail and personal service businesses since the strict measures will have been in place for more than three months, which could result in more SMEs closing down over this period as they have no hope of doing business,” said George Leung Siu-kay, the CEO of the Hong Kong General Chamber of Commerce.
“We hope the government can extend more financial assistance to help those affected get through this very challenging time.”
