Wholesale and retail lost a total of $ 15.1 million to the industry as a result of the impact of tropical cyclone Yasa.
This was revealed by the Fiji TC Yasa Business Survey, that was conducted by the International Finance Corporation and the Department of Commerce, Trade, Tourism and Transportation with the support of the Australian and New Zealand governments.
The survey also found that female-owned micro businesses needed the most targeted support as they would likely face the greatest challenges in growing their business after the effects of the cyclone.
According to the IFC, the survey of 1,554 Fijian companies showed that 92 percent were affected by the cyclone when it hit in December 2020, but only 1 percent had cyclone insurance.
The TC Yasa Business Survey It also makes some key recommendations, including that organizations, informal or formal, should receive advisory support and training on strategies for restoring and building resilience.
Examples of organizations that could provide adequate and valuable assistance were MSME Fiji, the Fiji Commerce and Employers Federation, and Business Link Pacific.