Business group: Not all stores ready to reopen

Micro, small, and medium enterprise (MSME) owners are breathing a sigh of relief as the Prime Minister announced the reopening of retail businesses on Monday.

Greater San Fernando Business Association president Kiran Singh told Newsday he was pleased that Dr Rowley reopened a vast sector of the economy as these businesses drive the growth of TT’s economy.

He said business owners suffered for the past two months as they could not generate any income or pay salaries of their workers who, in turn, could not properly take care of their families.

However, he said, people should not expect to see 100 per cent of retail stores open on Monday as many would need time to get employees back out to work, retool, restock and “re-gear operations.”

He said for many stock would have expired and businesses may have to refinance loans or organise new financial arrangements before reopening. He also warned store owners not to expect a flood of business as some people would be wary of being out in public.

He said reopening was also good for food establishments, especially smaller ones, as their customers were usually workers from various sectors that were closed during the stay-at-home restrictions.

“Although this is good news it will take some times for businesses to revive as we were already facing a downturn in the economy from the drop in oil and gas prices. But it is still positive that we have been given the green light to go forward and we look forward to the fact that, in the near future, the remaining businesses could reopen.”

He said the decision to reopen retail business came a critical time for operators as it was usually around the time of year they ordered goods for Christmas – a time when they can recoup losses during the year.

“I think if we remain secluded from external forces and factors, the economy can flourish and we can see some profit coming out of the MSME sector as we approach Christmas.”

In a release, the TT Chamber of Industry and Commerce commended the Government for its handling of the pandemic.

“The Government’s actions have indisputably saved lives and now it is time to focus on livelihoods responsibly.”

The Chamber said it was “satisfied” that Phase Three of reopening the country was brought forward from June 5 to June 1 as it meant the return to a more “sustainable economic landscape” and relief for many businesses.

It also called on businesses to strictly follow the public health and safety protocols set by the Ministry of Health so as to minimise the risk of a second wave of covid19.

“The TT Chamber supports the TT Police Service’s role in enforcing the policies. It is critical we all comply to the No Mask, No Service policy. This will keep our employees and customers safe, as well as ensure that the other phases are brought forward earlier.”