No poll is scientifically accurate, but if the results released today of a poll of business leaders at the recent Business Forum is any indication, things are looking well for the private sector. CEO in the Ministry of Trade and Investment Michael Singh says a majority of businesses are expecting good profits.
“I want to share the results of a quick survey we did with the private sector at the Prime Minister’s Forum last week. We asked a couple of questions, and I thought I’d mention some questions that really lead to the question of employment. We asked, ‘How do you characterize your company’s financial performance in 2013?’ 51% of those people expect that they will either break even or make a small profit. 33% expect a relatively profitable year. 6.17% expect a very profitable year. A mere 7.41% expect to have a relatively large loss, and 1.3% a very large loss. So that tells me that the economy is turning. People are seeing that profits are increasing.”
About 57% of businesses polled expect modest to substantial profits in 2014 over 2013, and 31% expect to be steady. Some of the risks involved in business were also profiled, among them a lack of qualified employable persons, increased taxes and the threat of a global economic downturn. The poll was spearheaded by CEO in the Office of the Prime Minister, Audrey Wallace.