Pacific Trade Invest says 78% of respondents to its latest survey of Pacific businesses are confident their businesses will survive the COVID-19 crisis.
However the impact of COVID-19 on businesses has slightly worsened according to the survey, with 60% reporting a very negative impact, and 89% a negative impact.
62% of the resondents report a negative impact on their mental health.
Businesses continue to identify the three main challenges affecting them as poor cashflow, uncertainty over how long the crisis will last, and the impact of closed borders.
They say the three most needed areas of assistance are financial support, review of their financial position, and improved online commercial capabilities.
PTI has been running fortnightly surveys for several months and says it will continue to monitor business health and perceptions into 2021. This particular survey had 113 respondents.
The full survey can be viewed here: https://pacifictradeinvest.com/covid-19-response/pti-pacific-business-monitor