Maureen N. Maratita
Publisher
publisher@glimpsesofguam.com
There is a heartbreaking image that comes to mind from Typhoon Mawar and the havoc it wreaked in Guam in May of last year.
It is of the huge piles of mattresses, white goods and more that were deposited in Tiyan in the center of Guam and stayed there for weeks — easily visible to anyone who drove by the site.
The U.S. Army Corps of Engineers spent an equal amount of time clearing the debris.
Most streets in our 19 villages on the island also had household goods put on the side of the road for collection.
Ten months later, not all businesses have repainted their exteriors or replaced missing letters from signage, particularly since the island saw a strong storm in October as well, which added further stress to buildings and the islands damaged vegetation.
Typhoon Mawar caused millions in damage to personal property as well as the island’s port, airport and utilities structures.
The value of having insurance to lean on is undisputable.
But as our coverage shows, the rising cost of premiums is leading businesses to look for other solutions from the insurance industry.
The effects of Mawar are still with us as the Government of Guam hopes that the Federal Emergency Management Agency will provide $6.4 billion to strengthen the island’s power system.
Other features in his issue come from the retail sector and women in business.
Launching a business in today’s economic climate in the islands is tough. The costs of labor, products and supply chain issues are daily challenges. The rising costs of living challenge family disposable incomes.
The retail sector has faced its own challenges, as brick and mortar outlets have shuttered, and a COVID-driven recession has had consumers thrifting and watching budgets.
Women own businesses in 16 market sectors of Guam. According to the past three economic surveys in 2017, 2012 and 2007, the percentage of women owned businesses have grown.
If the business stories we feature have a common history, it is that they began as micro-businesses with good ideas and grew from there.
And many national and international famous names began exactly the same way.
