Slowdown of Covid-19 cases in Cebu aids in business recovery

BREAK-EVEN. This time of the year usually brings in more revenues to businesses but with the Covid-19 pandemic, businesses are satisfied to just hit breakeven so long as Covid-19 cases continue to go down. (SunStar file)
BREAK-EVEN. This time of the year usually brings in more revenues to businesses but with the Covid-19 pandemic, businesses are satisfied to just hit breakeven so long as Covid-19 cases continue to go down. (SunStar file)

THE slowing down of Covid-19 cases in Cebu is painting a hopeful picture of recovery, a business leader said.

“The modified general community quarantine (MGCQ) tests the water if the health situation can sustain and can handle the reopening of the business and economy. So far, the results are encouraging with the cases still down despite the people crowding out to work,” Mandaue Chamber of Commerce and Industry president Steven Yu told SunStar Cebu.

He hopes the improvement will continue especially since the holiday season is already here. Yu said it is during this time when consumers drum up their spending.

Under the MGCQ, only a limited number of businesses are not allowed to operate. Those in the goods and services sector enjoy a more unhampered access.

“The volume of business is increasing. But it is still far from the level to hit breakeven. But the positive aspect is that there is an increasing trend albeit slower than expected,” he said.

Consumer spending

Yu said businesses can benefit from the Yuletide consumer spending.

“The holiday season will spur the sales significantly from where we are now. It will not be the same level as pre-Covid but enough to hit breakeven, hopefully,” he said.

The Philippines is said to have the longest holiday season as Filipinos begin spending as early as September.

Yu said the key towards recovery is for Covid-19 cases not to spike again.

“Health and safety protocol should be strictly implemented, and complacency should not be allowed to prevail,” he said.

Support local

Yu said the chamber has encouraged Filipinos to buy local products to support the revival of the economy and help domestic businesses rise again.

“Buying local products sustains local industries and it leads to self-sufficiency,” he added.

Meanwhile, the Department of Trade and Industry is pushing for programs that support local businesses.

It said that by supporting local industries, it can sustain the business operations of businesses hit by the pandemic.

It will also ramp up the opening of businesses and can generate local employment through the rehiring of those who lost their jobs. (JOB)

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