Young business owners find new ways to deal with COVID-19, ITC survey reveals.

• Position: News Brief

The COVID-19 pandemic has left firms owned by young people in developing countries looking for new ways to survive and grow, a recent survey by ITC reveals.

Answering the question 'How has COVID-19 affected your business?' survey respondents said they had seen a drop in sales--more than any other single consequence at 60% of responses.

'Running a business during COVID-19 is very challenging in general,' said Masresha Beniam, the founder of Ethiopian company OmniTech, which works in schools to increase technology awareness.

ITC's Youth and Trade Programme quizzed small business owners aged 35 or younger to understand how they are responding to the economic and social Shockwaves of the global coronavirus pandemic.

Temporarily reducing employment for all or...