Stark economic outlook in Chamber of Commerce document
Hundreds of Island businesses have been hit by the lockdown to combat Coronavirus.
That's according to a Chamber of Commerce survey of more than 400 companies from the sectors affected immediately by the pandemic such as construction, hospitality and retail.
The survey was taken during the first week of April and most of those participating have fewer than 10 employees.
More than 41% have closed, with a further 14% considering this option.
Almost 74% were planning to reduce their workforce in the next week.
Less than 10% of companies are in receipt of Isle of Man Government funding, although this is likely to rise following the official launch of the MERA on 6 April and applications for the Wage Support Scheme being released after the Easter weekend.
The document can be viewed here.
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