PTI report: COVID-19 continues to have negative impact on businesses
30 November, 2020, 12:56 pm
The global COVID-19 pandemic continues to have a negative impact on businesses as borders remain closed.
However, the extent and severity of impacts may be beginning to improve, with 79 per cent Fiji businesses reporting a negative impact, the lowest since tracking began.
Pacific Trade Invest Australia recently released Pacific Business Monitor Fiji Focus 8, which showed that the top three challenges as a result of COVID-19 remained as poor cashflow (90 per cent Pacific, 91 per cent Fiji), impact of closed international borders (89 per cent Pacific, 85 per cent Fiji), and not knowing how long the crisis will last (88 per cent Pacific, 85 per cent Fiji).
PTI Australia trade commissioner Caleb Jarvis said while businesses were continuing to take actions to reduce costs to their business, positively, the number of businesses reducing operational costs, working hours and staff wages had decreased significantly since the October survey.
Mr Jarvis said it was heartening to see the negative toll on mental health had improved, with 62 per cent reporting negative impacts on their mental health, a 12per cent drop from last month’s 74 per cent.
He said the PTI global network continued to use the data from the PTI Pacific Business Monitor to champion the Pacific’s private sector at a regional level and said the network also looked to this data to help inform the design and delivery of its programs across the 16 Pacific nations it services.