Grenada Broadcasting Network

20th May 2022

  

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Covid-19 continues to adversely affect local businesses with an ultimatum seemingly looming over their heads in 2021.

The current state of emergency and curfew in effect since December has further crippled the local entertainment industry and nightlife.

An already cash-strapped government may again be called for another bailout in terms of income support for employees and financial support to businesses.

The situation has gotten worse; to the point of companies facing liquidation as high debt loads continue to severely affect businesses.

Private Sector Senator Christopher De Allie says this is especially so for companies within the tourism industry as well as the entertainment industry.

Senator De Allie says there are varying degrees of effect by the pandemic on businesses over the last year however primarily the hotel and accommodations sector are top on the list.

He expects a challenge for the government to lend any financial assistance.

Nightclubs and restaurants have witnessed a drastic decline in business, having to shut down or operate within the curfew hours.

Senator De Allie impresses the closure of businesses will automatically affect unemployment and potentially social issues.

Hardware and retail businesses, he notes have been performing relatively well, benefiting from the construction industry.

Government has already indicated in late 2020 that it was no longer in a position to continue providing a stimulus package to companies or individuals directly impacted by the covid 19 pandemic.

Government has extended a State of Emergency which began on January 11th to end on July 14th. A 10 pm to 5 am curfew remains in effect.

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