A high proportion of business owners estimate they can sustain their businesses for three months from April 2020, a survey by Dialogue Fiji has found.
Eighty interviews and 145 completed forms were analysed to reach the findings that state significant declines in business activities across sectors and industries have occurred because of COVID-19.
“A majority of businesses have made employees redundant or reduced work hours, regardless of the actual impact on sales and business activity,” states the report.
“A significant proportion of businesses are on the verge of closing down or have already closed down. The highest proportion of business owners surveyed estimate that they can sustain their businesses for three months (from April, 2020).”
The survey found the majority of business owners hold the optimistic view that the pandemic can be contained and the economy would transition into the recovery phase, and their businesses would recover in 12 months.
“A number of these businesses have opted to reduce the working hours of employees in order to be able to keep them on the payroll.
“Reducing working hours remains a popular option for businesses that have opted not to make workers redundant. Thirty-two businesses have opted to distribute the burden across all workers, and the reduction in working hours includes all workers.”
