The Fiji Times »Wholesale and retail sectors lose $ 15.1 million

The wholesale and retail sectors lost a total of $ 15.1 million to the industry due to the impact of Tropical Cyclone Yasa.

This was revealed by Fiji TC Yasa Business Survey which was led by the International Finance Corporation and the Department of Trade, Commerce, Tourism and Transport, with support from the Australian and New Zealand governments.

The survey also found that women-owned microenterprises were most in need of targeted assistance, as they were likely to face the greatest challenges in expanding their businesses in the wake of the impacts of the cyclone.

According to the IFC, the survey of 1,554 Fijian businesses showed that while 92% were affected by the cyclone when it struck in December 2020, only 1% had cyclone insurance.

the TC Yasa Enterprise Survey also contains some key recommendations, including that businesses, whether informal or formal, should receive advisory support and training on recovery strategies and resilience building.

He cited Fiji MSMEs, the Fiji Federation of Trade and Employers and Business Link Pacific as examples of organizations that can provide appropriate and valuable assistance.

About Timothy Cheatham

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