Addressing the economic impacts of COVID-19 on businesses around the world, Premier and Minister of Finance, Hon Andrew A. Fahie  has called on local businesses in the British Virgin Islands to start making moves to take advantage of technology and overcome shortfalls while boosting trade.

"We have to look at the technology that is available, and how we can do that to more effectively run our businesses. Are we making the full use of the social media platforms?" the Premier asked in a June 5, 2020, statement of the Government's economic stimulus plan.

The Premier said business operators need to be looking at their supply chains, in-bound logistics and the out-bound logistics while focusing on new marketing strategies, new approaches to customer service and service delivery.

"For one thing, there is a lot of potential for building websites and mobile apps; digitising aspects of your business and getting it online."

An online presence is a gateway - Premier Fahie

According to the Leader of Government Business, depending on the nature of the products or services a business offers, an online presence is also a gateway to take businesses to an international market.

"I believe that out of every storm there are opportunities. We have to focus and find the silver lining in this dark cloud. We cannot just throw our hands up in the air and abandon hope."

The Premier said COVID-19 is a wake-up call for the Territory to push itself and create the new VI that generations will benefit from.