SMEs in 2020 saw their turnover drop by 420 billion (-13,5%). The giants of the web, on the other hand, in the first 6 months saw it increase by 17%
The figure is one to shake your wrists: 420 billion euros. This is the loss of turnover recorded this year by Italian companies due to Covid. The estimate was prepared by the CGIA Studies Office.
“Net of the measures to support liquidity and the effects of the postponement of tax deadlines - reports the coordinator of the Paolo Zabeo Research Office - this year the Government has allocated 29 billion euros in direct aid to companies affected by the pandemic. This means that in the face of a collapse in the turnover of the entire economic system of our country of about 420 billion euros, the coverage rate has touched 7 percent. An insignificant impact, although in absolute terms the total amount of the measures implemented to support economic activities has the size of a budget ".
The CGIA Studies Office is keen to specify that the total turnover of companies in Italy is just over 3.100 billion euros. With a loss in revenues relative to 2020 which should be around 420 billion, the contraction compared to 2019 would be 13,5 percent. On the other hand, the results obtained by the web multinationals present in our country are quite different. Pending the annual figure, according to Mediobanca's research area, in the first half of 2020 the turnover of big digital companies increased by 17 percent: a real boom.
"It is however necessary to specify - declares the Secretary of the CGIA Renato Mason - that the SMEs that have suffered the most negative repercussions of the crisis, or those that have had to close by decree, the refreshments provided by the Executive have covered an average of 25 percent about the drop in turnover. The income support measures approved by the Conte government, in fact, largely went to the activities that recorded a drop in turnover of at least 33 percent compared to 2019. The fact remains that economic aid also for these realities were insufficient ".
• The supply chains most in trouble
Excluding hotels, restaurants, bars, pastry shops and all activities that revolve around the tourism sector, the CGIA lists the economic areas most affected by the crisis. That means:
- the passenger transport chain (taxi, NCC, bus operator);
- the events chain (congresses, weddings, ceremonies, etc.);
- street vendors, especially with parking spaces in the areas affected by events, stadiums (the so-called “trade fair”);
- the sports, leisure, entertainment, discos, amusement and theme parks (including traveling show activities);
- the cultural activities and entertainment chain;
- the trade to the detail, in particolar way vestimenta, calzature, books and articles of cartoleria;
- commercial agents.
• The crisis of the cities of art
At a territorial level, the crisis has affected everyone without distinction, even if the South is the geographical division of the country that is suffering more than the others the negative effects of the pandemic, both from an economic and social point of view. However, there is a common denominator that emerges throughout Italy: the crisis of the cities of art with a high tourist vocation. Venice, Florence, Pisa, Rome, Verona, Milan, Matera, Padua, Syracuse, Naples, Cagliari, Genoa, Palermo, Turin and Bari are some of the municipalities identified by the "August decree" that this year have suffered a vertical collapse in attendance foreign tourist. Faced with this situation, the sectors mentioned above and located in these cities were found to be the most in trouble and will probably continue to be so in 2021. Well, if tourism is the leading industry in the country and is also the sector that most of all the others it has suffered the negative effects of Covid, why does the draft of the “Recovery Plan” show that the government will invest only 3,1 billion of the 209 made available by Brussels with the Next Generation EU?
• Aid granted to businesses
Discarding the measures that have been introduced to support liquidity and the effects of the postponement of some tax deadlines, this year the Government has made € 29,1 billion available to businesses. The most important item was that of non-repayable grants which amounted to 11,3 billion euros. Other interventions follow that amount to 7,9 billion and the cancellation of the 2019 balance and the 2020 Irap deposit which allowed a relief of 3,9 billion. Tax concessions for sanitization and lease payments allowed savings of € 5,1 billion, while the cancellation of the IMU and Tosap / Cosap guaranteed a reduction in local taxation of € 802 million.
• Switching from the logic of refreshments to that of refunds
Regarding the measures to support the activities forced to close completely or partially, the CGIA underlines that the State and the Regions have the right / duty to prepare all the restrictions they deem useful to protect public health. It is also evident that in the face of measures that require the closure of economic activities, the latter must be helped economically to a greater extent than what has been done up to now.
It is true that this additional current expenditure would contribute to increasing public debt, but it is equally true that if we do not save businesses and jobs, we will not lay the foundations for restarting economic growth, the only condition capable of reducing the amount of public debt that is undermining the future of our country.
The activities closed by decree are no longer sufficient than simple refreshments, but an allocation is necessary that almost totally compensates both the missed collections and the current expenses that they continue to sustain. In short, we need to move from the logic of refreshments to that of reimbursements.
The same treatment must be reserved for those sectors which, although in business, are as if they were not. We point out, in particular, the commercial and craft enterprises located in the so-called art cities which, as we said above, have suffered a collapse in foreign tourist presences. Particular attention deserves the local non-scheduled public transport (bus operator, car rental with driver and taxi) which, although they have always been in service, continue to have vehicles stopped in the sheds or parking lots.