COVID-19 is causing havoc on economies the world-over, more so for pacific island economies. PTI NZ understands the difficulties our clients face on the ground in their own countries as well as with their exporting countries. We are here to help you.
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PTI Pacific Business Monitor
The effects of COVID-19 will be felt through the Pacific for months to come. As a global PTI network, we have launched the PTI Pacific Business Monitor Survey, a fortnightly survey to understand and provide governments, donors and stakeholders with needed data of how businesses in the Pacific are doing.
Key insights from the PTI Pacific Business Monitor Report September Survey 6 include:
- Business confidence continues to decrease with only 68% of businesses confident that they will survive COVID-19.
- There is increased uncertainty in the market, with over a third of businesses responding that they are unsure when revenue will return to pre-COVID-19 levels.
- The proportion of businesses reporting a decline in revenue due to COVID-19 remains high and in line with previous surveys at 92%.
- A higher number of female-led/owned businesses are reporting a significant decline in revenue, 73% compared to 47% of male-led/owned businesses.
- Top 3 challenges as a result of COVID-19 remain unchanged:
- 91% Impact of closed international borders.
- 87% Poor cash flow.
- 86% Not knowing how long the crisis will last.
- Top 4 initiatives businesses need assistance with:
- 50% Financial support.
- 41% Access to new markets.
- 34% Review/Update financial position.
- 30% Improving/implementing online-commerce capabilities.
- The negative toll on businesses owners has remained steady with 65% reporting a negative impact on their mental health.
The voice of the Pacific's Private Sector is stronger together - The seventh survey will open this Sunday 27th September we encourage all businesses in the Pacific to be part of this important ongoing research.