Half of companies expect the crisis to end within a year

Companies feel the impact of the economic recession the most recently. Almost half of them expect the crisis to end within a year, the second half expect it to last another year, but not as long as two years. For more than one-fifth of those surveyed, the crisis has been a reason to expand the scope of their business.

This comes out of a Vodafone Zoom survey about the economic recession that the agency Data Collect conducted for Vodafone among 300 respondents.

87% of companies have implemented austerity measures in the last year. They began mostly by saving expenses associated with their office operations (37 %), restricting their benefit policies (28 %) or lowering the costs of telecommunications services (28 %).

What it’s like with a work phone and private calls:

• Two-thirds of companies provide a mobile phone to their employees
• One-third of employees must pay for all of their private calls
• One-fourth of companies make their employees pay for all their calls

Only a small number of companies surveyed have changed their mobile operator within the last 12 months. For the majority, the reason for the switch was due to a better offer from the competition. Those who stayed with their operator don’t plan to switch within the next six months.

The economic crisis is felt most by companies with less than ten employees, who had to reduce their expenses and haven’t successfully managed to sell their products and services. Although the majority of companies see the current crisis as a menace, one-third of those surveyed see it as an opportunity.