OECD: From Ireland to the US, the thousands of people employed by small firms are the hardest hit in the crisis

Small firms, or SMEs, from Ireland to the US, account for “the bulk” of the jobs hardest hit by the global lockdowns and are the most likely to fail the longer the restrictions last, the Organisation for Economic Cooperation and Development, the OECD, has said.

With a share of 42%, Ireland is among one of the countries whose small firms account for a large part of the jobs which are the most affected by the Covid-19 economic crisis, the OECD figures show.