The impact of the COVID-19 pandemic on the local business community has pushed more than 50% of businesses in the manufacturing sector into a condition of partial operation and forced the complete cessation of operations of more than 17% of the enterprises. And according to the findings of a recent survey undertaken by the Guyana Manufacturing & Services Association (GMSA) more than half of the businesses in the sector have either already let go of staff or plan to do so.
The survey, some of the findings of which have been seen by the Stabroek Business, itemizes among the “main challenges” facing the sector the knock-on effect of the COVID-19 climate on customers and clients and the consequential dip in demand below the normal level. Significant reductions in the level of cash flow necessary to maintain staff and operations and disruption in supply chains have also been identified as impacting on the current state of health of the sector.
