More than 500 family businesses close for good in Valencia due to pandemic

More than 500 family businesses close for good in Valencia due to pandemic

CREDIT: Twitter

More than 500 family businesses close for good in Valencia due to the pandemic.
ONE business a day has disappeared in the city since the beginning of the pandemic, with family-run shops reportedly suffering the most during the crisis due to a lack of aid.
Every time Nuria closes the doors of her family’s hardware store at the end of each day, she fears that “it could be the last time,” she and her sister told Las Provincias.
Nuria hopes that the family’s business for the last 70 years will not be one of the 513 that have lowered their shutters permanently, according to figures from Valencia City Council.
Those who are still hanging on are reportedly forced to dip into savings, ask for help from their families or take out bank loans to be able to continue.
Traders organisation Confecomerç estimates 15 per cent of small businesses will close as a result of the pandemic.
“For this reason, small commerce needs, more than ever, the government aid to arrive on time as at the moment it is their only lifeline.
“This is a sector formed by micro-enterprises which have no financial muscle, and the lack of income can only be alleviated through urgent and direct aid,” the organisation told the same publication, adding: “We find ourselves with a drop in sales, having to face and assume daily fixed costs, with restrictions that fully impact on our day-to-day activities.”
Confecomerç revealed that “time is running out for traders” and warned “the time factor is decisive, so the aid must arrive as soon as possible, as well as the procedures to access them, which should be quick to process.”
“This is a major concern of the sector, given that companies will be solvent under these parameters.”

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Tara Rippin

Tara Rippin is a reporter for Spain’s largest English-speaking newspaper, Euro Weekly News, and is responsible for the Costa Blanca region.
She has been in journalism for more than 20 years, having worked for local newspapers in the Midlands, UK, before relocating to Spain in 1990.
Since arriving, the mother-of-one has made her home on the Costa Blanca, while spending 18 months at the EWN head office in Fuengirola on the Costa del Sol.
She loves being part of a community that has a wonderful expat and Spanish mix, and strives to bring the latest and most relevant news to EWN’s loyal and valued readers.

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