The Central Bureau of Statistics (CBS) released some of the results of the Business Survey held in December 2015.
The aim of the research is to provide, on a regular basis, twice a year, current information about business and economic parameters and developments. It should also provide insight into expectations and opinions of local business owners.
For this research all companies with ten or more employees were visited. A sample was taken from each company with three to nine employees. It is thus for a part a sample survey. By taking a sample, the CBS can make an estimate from the characteristics of the entire population (all businesses) and can therefore make statements about the population in a responsible manner. Certain financial companies, sole proprietors and small foundations were not included in the research. Not all companies on the island were approached by CBS.
Main results Economic Survey 2015
Of the companies approached 45 percent have indicated that they have invested in the latter half of 2015. This is 4 percentage points more than in June 2015.
38 percent of the companies have indicated that there have been investment barriers, two percentage points more than in June 2015.
Slightly more companies have indicated that the competitive position has deteriorated. That percentage has increased from 21 to 26 percent.
Confidence in the economy, in the opinion of business owners, has slightly worsened over the past six months. In December 2015, more business owners, 33 percent, indicated that confidence in the economy has worsened over the past six months. In June 2015 that figure was 31 percent. The percentage of companies that have indicated that confidence has improved, reduced from 6 to 4 percent. The percentage of business owners that has indicated that confidence remained unchanged is 63 percent.
Confidence in the future has changed a little bit in the second half of 2015 from 51 to 50 percent. The proportion of companies that have indicated no confidence in the future has increased from 20 to 22 per cent last December 2015.
The opinion on the investment climate in the second half of 2015 deteriorated slightly compared with June 2015. Most companies (59%) have indicated that they find the investment climate moderate (63% in June 2015). According to 34 percent of the companies the economy is poor (31% in June 2015), and only 7 percent of companies find the investment climate good (6% in 2015).
Fewer companies have had to deal with an increase in turnover. The percentage has declined from 38 to 34 percent compared to December 2014. The share of companies where revenues decreased became 52 percent (48% in December 2014).
The percentage of companies that have achieved positive result in 2015 is at 54 percent. Nearly 46 percent of companies have indicated in December 2015 that they will achieve an operating loss for the year 2015.
Source: Curaçao Chronicle