HAGATNA, GUAM – Typhoon Mawar heavily impacted Guam businesses, according to a recent Chamber survey of its membership. The Guam Chamber surveyed its members to evaluate how this disaster disrupted trade and operations and what assistance companies need to open for business. The email survey took place from May 30th to June 9th.
While internet access was limited during the time of the survey, ninety-seven companies completed the poll. The results revealed that 53% of respondents were able to operate their businesses after the storm, while 30% opened with limited hours, and 17% remained closed. Eighty-one percent reported that they experienced adverse impacts due to Typhoon Mawar. In comparison, 12% responded that the storm did not negatively impact their opportunity to conduct business, while 6% were still assessing the impact of the typhoon on their businesses.
The Guam Chamber asked in the survey if companies were pursuing any austerity measures and what policies will be implemented. Thirty-five percent indicated that they will reduce employee hours; 9% reported that they would lay off employees; 37% will reduce hours of operation and 55% responded that their companies would not be pursuing any cost-cutting measures.
A member shared that their company experienced approximately two million dollars in damages. Another reported "loss sales of $350K and $10K of damaged goods," in response to the question "What would you estimate the damages that your business has incurred?"
Describing the nature of damages sustained, a member reported that they have been burglarized, had ruined clothing merchandise, and experienced extensive flooding in their business. Many reported equipment and vehicle damage, spoilage of perishable goods, structural loss to buildings, and overall business interruption. There was a concern for company employees that could not report to work due to their household losses and recovery challenges as a direct result of the storm.
"Typhoon Mawar left a trail of devastation on our island and restoration will take some time", said Catherine Castro, President of the Guam Chamber of Commerce. "Member businesses have reported that the access to diesel fuel and gasoline right after the storm caused much confusion and disruption in their business operations. The lack of robust and stable telecommunications immediately after the storm's battery of the island and the days following the storm was another critical concern in the survey.
In addition to restoring power and water, other businesses reported concerns about the lack of immediate clearing of fallen trees, road debris, and rubbish collection as essential recovery efforts."
Over 400 members of the Chamber were invited to participate in the poll which generated 97 completed responses.
For additional information, contact the Guam Chamber of Commerce at 671-472-6311/8001 or email info@GuamChamber.com.gu.
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June 13, 2023
