Half of the businesses that closed won’t reopen

Dolores

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A poll carried out by the Ministry of Industry & Commerce and the Technological Institute of Santo Domingo (Intec) reveals that 52% of Dominican companies that closed due to the Covid-19 pandemic will not reopen. The deciding factor is that the companies are concerned that their clients will not return and have serious cash flow problems.



The Ministry of Industry & Commerce expects it to take small business more than 10 months to recover from the shutdown. But the poll showed there are also optimistic. A third of the companies had expectations they would recover in six months.



Read more in Spanish:Diario Libre



4 August 2020
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RDKNIGHT

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I agree it's a sad fact.... but its also a great opportunity to start a business,, you can negotiate everything at low ball numbers ....
 

CristoRey

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Mean while the large corporations have been allowed to
continue operating the entire time. Some even raised prices
allowing them to further expand their monopolies throughout
the country. At one point "big business" were encouraging
the government to extend the curfew while continuing to shut
down their competition. Disgusting.
Source: Dominican Today
 

CaribeDigital

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Sep 5, 2014
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Mean while the large corporations have been allowed to
continue operating the entire time. Some even raised prices
allowing them to further expand their monopolies throughout
the country. At one point "big business" were encouraging
the government to extend the curfew while continuing to shut
down their competition. Disgusting.
Source: Dominican Today
Correct me if I am wrong, but the dominican reaction to the crisis appears more natural and healthier.
Over there trillions are waiting for grab by the big coroprations. The general rule: the bigger you are, the more likely the helping hand of the state will be extended to you. Don't be fooled by the $600 handout. People were only allowed to hold this money for a few days.This is how they laundered another trillion to the benefit of banks and landlords.
 

CristoRey

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Apr 1, 2014
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Correct me if I am wrong, but the dominican reaction to the crisis appears more natural and healthier.
Over there trillions are waiting for grab by the big coroprations. The general rule: the bigger you are, the more likely the helping hand of the state will be extended to you. Don't be fooled by the $600 handout. People were only allowed to hold this money for a few days.This is how they laundered another trillion to the benefit of banks and landlords.
I agree with your point however the article/ link I posted
was specific to what the business council in DR wanted,
not the games being played stateside.
 

windeguy

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Jul 10, 2004
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Correct me if I am wrong, but the dominican reaction to the crisis appears more natural and healthier.
Over there trillions are waiting for grab by the big coroprations. The general rule: the bigger you are, the more likely the helping hand of the state will be extended to you. Don't be fooled by the $600 handout. People were only allowed to hold this money for a few days.This is how they laundered another trillion to the benefit of banks and landlords.
Maybe, maybe not. The natives will stay confined only so long:

 

DR Solar

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Nov 21, 2016
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One reason, the main reason for forgiving, not charging rent for our small commercial place in Sosua. She had to close, could not pay rent. Her business is her only income and she has been a good tenant.

What are the odds: kick her out and finding a new tenant in ...for how long to find another?

I think that working with her is far better then then having an empty shop trying to find a new renter, that could take months or years.
 

John Boyter

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I am seeing several businesses I new in Santo Domingo; restaurants, gym and shops are affected by the economic situation following the lockdown and pandemic
 

John Boyter

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MANAGEMENT - DISCPLINE - UNITY
But there are other countries apart from China which can boast success here.
Denmark where I am from did well supposedly but now are talking about stepping back the final reopening and talking about using masks more. I don’t know if the DR is doing well or bad or maybe its middle of the road.
 

MikeFisher

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Feb 28, 2006
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Denmark where I am from did well supposedly but now are talking about stepping back the final reopening and talking about using masks more. I don’t know if the DR is doing well or bad or maybe its middle of the road.
same for Germany.
they faired very well, only 9.000 deaths in a country with a quarter of the citizens of the USA as an example.
but doing steps back again now, too, after reopenings, as new infections started to pop up.
for example the new school year in germany will start with all kids having their masks on all day long.
to wear a mask wasn't even a must-du/just a recommendation for most germany during their lock down time frame.
it is simply the case that customers here in DR(I imagine similar for other countries but couldnt tell) do not have money to spend,
so businesses are open but cash flow walks on the Turtle Lane.
what i observed the last 3 weeks, as we did work on a house, is that the many Ferreterias here in the area(Bavaro/Veron) seem to sell what they have on stock, but not restock, as they leak of regular materials which they usually have on stock in large quantities.
so i guess they do not much of restocking, not spending money on restocking, they just sell whats still in the Almacenes.
one BIL of mine is working construction and had 2 Appartment complexes running, all 3 construction sites are stopped for the moment,
as the investors do not want to spend the money Know.
 

GusFring

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Apr 15, 2020
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Correct me if I am wrong, but the dominican reaction to the crisis appears more natural and healthier.
Over there trillions are waiting for grab by the big coroprations. The general rule: the bigger you are, the more likely the helping hand of the state will be extended to you. Don't be fooled by the $600 handout. People were only allowed to hold this money for a few days.This is how they laundered another trillion to the benefit of banks and landlords.
You are saying politicians in the DR are not steering covid money be it contracts, medicines, overall aide to their brothers, sisters, family and cronies on the daily?
 

CaribeDigital

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Sep 5, 2014
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I am seeing several businesses I new in Santo Domingo; restaurants, gym and shops are affected by the economic situation following the lockdown and pandemic
At the moment most dominican banks are still offering meses de gracia for clients unable to pay the debt. The debt is not cancelled but deferred without penalty.
This won't last forever, obviously. The worse is yet to come: reposessions and evictions. The hotel sector has reached the bottom already, the rest of economy not yet.
 

carlos

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May 29, 2002
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Please stay on topic and keep this about the DR.

Thanks
 

CaribeDigital

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Sep 5, 2014
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You are saying politicians in the DR are not steering covid money be it contracts, medicines, overall aide to their brothers, sisters, family and cronies on the daily?
Without any facts known to me I would say no.
There is not really much money in new contracts and medicines becase they have chosen to do nothing. Frankly, I would prefer them to make large investment in new hospitals and centers of isolation, Chineses style, even assuming that 25% would be stolen, Dominican/Odebrecht style.
 

bob saunders

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At the moment most dominican banks are still offering meses de gracia for clients unable to pay the debt. The debt is not cancelled but deferred without penalty.
This won't last forever, obviously. The worse is yet to come: reposessions and evictions. The hotel sector has reached the bottom already, the rest of economy not yet.
The Dominican central bank is also providing funds to the banks to lend at ( for the DR) lower interest rates - 8%.
 

John Boyter

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yeah.
actually a half full glass would make for a full Drinkfest.
but in reality the catering service for the party is stuck in some very heavy traffic,
not awaited to make it on time for christmas eve.
Some Apps have really grown. In the Capital Ubereats and Pedidosya and Hugo are some. I see them on SoMe looking for more staff. Uber is starting in Punta Cana. Maybe thats a positive the economy having to adapt more. I always thought it was a mistake keeping Uber out of Punta Cana. Tourists want to use what they know. Especially the resort type tourism. So now maybe they realized they had to open up more.
 
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