SME

COVID-19 impact on Pacific SMEs severe, but with a glimmer of hope

A survey by Pacific Trade and Invest shows 90 percent of Pacific SMEs report a decline in revenue since the pandemic hit and 92 per cent believe COVID-19 has negatively influenced the economy.

The outbreak has severely affected the operations and profitability of their businesses.

Not only that, those employed by the SMEs have lost  jobs as they could not sustain the impact of the outbreak.

Travel bans and restrictions on gatherings have also affected businesses in PNG and the Pacific.