Businessman: There’s a post-COVID boom in the economy
In keeping with the government’s position that the BVI economy is showing strong signs of recovery after the global pandemic, one businessman has signalled that many businesses are experiencing a boom in the post-COVID era.
While presenting the 2023 budget last November, Premier Wheatley predicted that economic growth in the BVI would have surpassed three per cent. This is contrary to the position held by Sixth District Representative Myron Walwyn, who recently bemoaned the plight of many businesses and called for government funding to give them a boost.
But according to Tom Gerker, Managing Director of Parts and Power Ltd, there are new opportunities in the post-COVID era. He explained that many businesses that suffered during the COVID lockdowns are now benefiting from a “pent-up demand”.
He said this demand was brought on because many consumers are eager to spend now simply because they couldn’t access the goods and services they needed during the pandemic.
“There’s a lot pent-up demand and the only way to take advantage of it is to go and get it,” Gerker said. He also explained that many local businesses can take advantage of opportunities where customers lost their traditional suppliers because of the lockdown.
In fact, Gerker said this strategy has helped his company to recover in the post-lockdown era. As a supplier of diesel engines, engine parts and accessories, Gerker said Parts and Power Ltd has gained new customers in the BVI and the Eastern Caribbean because COVID disrupted the operation of many of their competitors.
He believes this is one way that local businesses may get new opportunities as they continue to recover from the pandemic.
“Before, they (customers) would say they’re not interested because they had their suppliers. But after two and a half years [of lockdown], those channels were interrupted and it has given us the opportunity to move into markets that weren’t available to us before,” said Gerker.
Businesses should focus on service
In the BVI, elected leaders and residents often bemoaned instances of poor service that some local businesses give to tourists and residents.
According to Gerker, new and existing local businesses must focus on excellent service delivery, as this is what will drive success and grow the economy. He said service delivery is the key to longevity despite the new opportunities brought about by the global pandemic.
“Service is what makes anything these days. You can always buy things cheaper somewhere else but it’s really the service — the personal detail that keeps customers coming back,” Gerker explained.
Parts and Power Open House event
It’s this confidence in the service his company delivers that makes Gerker feel like residents will be supporting the Open House event that Parts and Power will be hosting today, May 26, at Skelton Baylot in Fish Bay, Tortola.
Government officials and other dignitaries will be in attendance as the company celebrates 50 years in business in the BVI. There will be food and festivities for residents but Gerker said he is looking forward to seeing customers who can benefit from the electrical and industrial power supplies and accessories they have available.
“Everyone can attend — somebody who is renting an apartment, electricians, construction companies, people who run organisations such as schools and hospitals, people who own boats — they can all attend our event to see what we will have on display,” Gerker explained.
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Its because lots of persons living support local businesses instead of going to St. Thomas. Persons avoid travelling so they instead shop locally.
THE ONLY BOOM I AM SEEING IS ALL THE DOCTORS IN THE BVI BUYING UP PROPERTIES AND BUILDING HUGE BUILDINGS FROM THE NHI MONEY
This upbeat positive article seems more like an advertisement for this industrial business rather than an actual post Covid business boom news report. It would be helpful if some actual increased business facts were included in this article and not just opinions.
I will never forget how your business treated us after the hurricane. Instead of helping you used it as an opportunity… That’s not good corporate responsibility.
There will be a true BOOM when prices and cost of living goes down!
After Irma, I, like everyone else needed a generator. I went and saw Tom and he said he had one left which hadn’t arrived yet, but I could have once it came which was 3 weeks later. He even gave me a deal on it. Great company and great service. Thanks Tom and Co.
That’s not what I see when I shop at the grocery, five items on average costs 30 – 40% higher than what I paid prior to COVID. These ppl’s views reflect the mindset of our Premier, S**WANDE and the A** Clown Brigade. The tone starts at the top
One of the BVIs most * businesses. It trades on its monopoly of certain parts. The government should pass laws to ban businesses having monopoly power over supply.
Especially this one.
Business seems to be booming because it costs so much to travel. The ferries are extremely expensive and charge for every bag on top of the costly tickets. Let’s not forget that we have to must include departure taxes from both VI and USVI. The couriers are also very expensive. In the end, as customers we have no choice but to bite the bullet and pay the high local prices for goods. That’s the justification for what he perceives as a post Covid sales boom.
I’m sure he did esp if you look like him.
Well let the shenanigans continue at the airport and see how it drops big time. Such fools.
There was less travelling that’s why.
He services the marine industry and high value properties which are largely linked to tourism. Tourism has rebounded with lots of money flowing in during the season and flowing into the downstream businesses. Inflation is high and for the rank and file BVI resident things are tough. Sellers of essential commodities such as food, fuel, transport, clothing etc not doing too badly as these are necessities. The average resident is not doing well and things are tight for the businesses outside of these sectors though. Construction is limited to a few private cash rich investors and the odd Government project. Material costs are high borrowing is expensive and property sales are stagnant. The average resident and small business is in an economic survival holding pattern.