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Two-thirds of businesses fully reopened, Chamber survey finds

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Economic recovery: a survey by the Bermuda Chamber of Commerce has examined changes in business operations across four sectors (File photograph)

There are positive signs that many businesses have managed to deal with the impact of Covid-19 pandemic, however some are still greatly affected.

Recovery trend: more businesses had fully reopened in December than the previous Chamber survey in August (Graph by Bermuda Chamber of Commerce)

The Bermuda Chamber of Commerce surveyed businesses in Hamilton, North Hamilton, St George’s, and Dockyard to examine changes in business operations.

The two-week survey in December focused on four sectors, namely food and beverages, personal care, clothing, and specialty stores such as gift shops and homewares. It found 8 per cent of businesses had permanently closed, while 27 per cent were either temporarily closed or operating on reduced hours.

Almost two-thirds of the 558 businesses surveyed, some 65 per cent, were fully open. It is the second “foot survey” conducted by the Chamber. The first was in August.

Kendaree Burgess, chief executive officer at the Bermuda Chamber of Commerce, said: “The majority of the new data shows there are some positive signs with business sectors, but Covid-19 is still greatly effecting businesses across the island. The impact of Covid-19 is still very prevalent to all businesses and the Chamber will continue to support and advocate on their behalf.”

The survey found that 85 per cent of personal care businesses were fully open, 5 per cent had permanently closed, 3 per cent had temporarily closed, and 7 per cent were on reduced hours.

Some 64 per cent of clothing retailers were fully open, 6 per cent were permanently closed, and 24 per cent were operating reduced hours.

Among specialty outlets, 55 per cent were fully open, 5 per cent were permanently closed, 16 per cent were temporarily closed, and 24 per cent were on reduced hours.

In the food and beverages sector, 59 per cent of businesses were fully open, 7 per cent were permanently closed, 12 per cent were temporarily closed, and 22 per cent were operating reduced hours.

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Published March 05, 2021 at 12:21 pm (Updated March 05, 2021 at 12:22 pm)

Two-thirds of businesses fully reopened, Chamber survey finds

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