The Guam Chamber of Commerce will hold a Business Recovery Summit on Friday, July 7 at the Hyatt Regency Guam to provide companies information on the state of the economy post-typhoon Mawar.
Catherine Castro, Guam Chamber president, said there were many different challenges that local businesses faced once Mawar moved out of the region. The Guam Chamber surveyed its members on Mawar’s impact on business and what assistance they needed to resume operations. The email survey took place from May 30 to June 9.
According to the Chamber, internet access was limited during the time of the survey but 97 companies completed the poll. The results showed:
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81% responded being impacted by the storm
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12% said they were not impacted and
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6% said they were still assessing the impact on business
Also:
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53% of respondents were able to operate their businesses after the storm
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30% opened with limited hours, and
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17% remained closed.
The Guam Chamber also asked in the survey if companies were pursuing any austerity measures and what policies will be implemented:
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35% indicated they will reduce employee hours;
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9% reported that they would lay off employees;
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37% will reduce hours of operation and
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55% responded that their companies would not be pursuing any cost-cutting measures.
