Small businesses have taken a hit of between six and ten billion euro during lockdown months.
One in five SMEs operated at a loss, a level the ESRI says would have been much higher without supports like the wage subsidy scheme.
However it says many firms have still had to rely on savings to survive the pandemic.
Senior Research Officer at the ESRI, Dr. Conor O'Toole, joined Ciara Plunkett on Kildare Focus:
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