Almost half of businesses in the manufacturing and services industry that were canvassed for a COVID-19 needs assessment survey have had to dismiss staff or plan to in the future and many of them see financial assistance, such as loans, subsidies, and cash grants, as being vital for their survival.
The survey, which was commissioned by the Guyana Manufacturing and Service Association (GMSA) to identify key challenges faced by businesses due to COVID-19, was administered virtually in June and saw a total of 37 participants from the different sectors, including agro-processing, forestry and wood products, and services. The participants have work forces ranging from two to two hundred and fifty workers.
According to the findings, which were seen by Sunday Stabroek, 17% of the surveyed businesses were forced to stop operating due to COVID-19, with small enterprises from the agro-processing sector employing between one and ten persons being the worst affected. Almost 90% of the respondents said that customers/clients had been affected and that demand was lower than normal.
