Israeli Businesses Report Severe Revenue Losses Due to Conflict, Survey Shows

Businesses in Israel have reported significant revenue losses as a result of the conflict between Israel and Hamas, as stated by a survey from the Central Bureau of Statistics. The survey, which encompassed 1,680 companies representing 68,495 businesses in the country, revealed that 51% experienced more than a 50% decline in revenue. Small businesses, employing between five to 10 workers, were hit harder, with 57% indicating “severe loss.” In comparison, only 14% of larger enterprises with over 250 employees reported such losses. Notably, over 70% of companies in the construction and food and beverage sectors indicated severe financial impacts. About 37% of businesses reported that a vast majority (over 80%) of their employees were absent, leading to a halt in operations. While 62% of construction businesses faced temporary or near closures, only 4% in the high-tech and financial services sectors reported similar challenges. The survey further highlighted that 42% of small businesses faced potential shutdown risks due to employee absenteeism, in stark contrast to 15% of larger companies.