Half of the service establishments we surveyed said that they face the risk of closure in the next 6 months. On the other hand, 46.7% of retailers and 44.4% of manufacturers surveyed expressed the same.
What is alarming is that 28.6% of retailers and 11.4% of service establishments surveyed expressed that if the current business climate continues, they will be forced to close in a month or less.
Of the 206 businesses we surveyed, 4 out of 10 businesses said that they will likely close in the next 6 months or less because of economic hardships experienced.
Those that are operating for less than five years are most vulnerable. The longer the business is operating, the higher the likelihood that they will be able to survive this crisis.
At least 10 percent of the total working population of Tagbilaran City had their jobs temporarily or permanently affected. This is a direct consequence of the forced closure of establishments when the city was placed under Enhanced Community Quarantine.
Barangay Cogon has the most number of workers (1,784) whose jobs were temporarily or permanently suspended, followed by Booy (853 workers), and Poblacion II (682 workers).
Business establishments we surveyed said that they needed tax waivers, low interest credit lines or credit guarantees. They also said they need temporary unemployment programs to help displaced workers.
However, when asked to choose from a list of health and financial measures, businesses value health measures more. This includes the supply of personal protective equipments (PPEs), information on the spread and transmission of the virus, and clarity on the measures to control the health crisis.
Almost 90% of businesses surveyed reported cash flow problems during the pandemic, alongside experiencing difficulties in receiving supplies on time and shipping goods to customers.
The top three causes of these problems are the closure of businesses during the quarantine, customers unable to pay their accounts, and reduced logistics services.
Assessing the Socio-Economic Impact of COVID-19 on Tagbilaran City 