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The impact COVID-19 has had on the private sector

Sep 15, 2021 News

Kaieteur News – The President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker, told Kaieteur News that GCCI’s membership in its entirety was impacted.
As it relates to the new COVID-19 vaccine restrictions, Tucker noted that from the feedback received thus far, there has been no severe impact on businesses operating in the private sector, mainly businesses located in the city area; and since there is a 65.7% vaccination rate of adult citizens businesses continue to operate, as usual. However, the GCCI did notice that 95% of the Chamber members were negatively impacted in the initial stages of the lockdown at the start of the pandemic back in 2020. The GCCI’s members had then seen a 75% reduction in sales, since they were only allowed to operate at a capacity of up to 40% – 60%.
Businesses are also struggling to come to terms with the implementation of the new COVID-19 vaccination policy, but as a result of having embraced technology with the use of online transactions, delivery services, online banking and mobile money services, they have managed to minimise the extent of the impact. Businesses can now operate without much face-to-face contact, and have utilised social media platforms, such as Facebook and Instagram to market their products and conduct transactions.

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