COVID IMPACT ON FEMALE LED PACIFIC BUSINESS

COVID IMPACT ON FEMALE LED PACIFIC BUSINESS

Posted by : Quoting Solomon Times Online Posted on : 25-Mar-2020

“A survey 5 of Pacific Trade Invest (PTI) Pacific Business Monitors has revealed that the negative impacts of COVID-19 on female-led businesses are increasing, with happiness and optimism declining and 92 per cent reporting a fall in revenue. “Despite this, Pacific businesses continue to adapt; an increasing number have scaled back operations, with fully operational female-led businesses decreasing to 23 per cent (down from 29 percent during Survey 4 of the PTI Pacific Business Monitor), and partially operational businesses increasing from 29 per cent to 41 per cent. “Commenting on the Survey 5 findings, PTI Australia Trade & Investment Commissioner Caleb Jarvis noted that the pandemic is biting hard for all businesses – particularly those led by women. “Although the majority of the Pacific remains free of COVID-19, the economic impact of closed borders has been debilitating, especially for nations that are reliant on tourism – a sector with a high proportion of female employees,” said Caleb.” Copyright @ 2020, Solomon Times Online.

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