"The impact on both revenue and mental well-being have risen starkly across the region since our last Survey 6, conducted in September.
"Worryingly this month most businesses (93%) reported a decline in revenue, which is the highest number since tracking began. More than two thirds (70%) of businesses labelled the decline as ‘significant', which is also a steep jump from last month's survey (60%).
"Although the Pacific has remained relatively coronavirus free, emotional and mental well-being appears to have worsened among business decision-makers. The negative toll on mental health has increased to the highest reported (74%), up almost 10% from last month (65%)," the October Pulse reported.
It adds that those reporting a very negative impact on mental health increased to nearly a quarter (23%).
As the pandemic continues to take a toll on business owners in the Pacific, female-led/owned businesses continue to face disproportionately more barriers to actioning initiatives in comparison to male-led/owned businesses (49% versus 32%). Female-led/owned businesses also face more substantial declines in sales and revenue (78% versus 60%).