The second annual Attitudinal Survey, carried out by the Georgetown Chamber of Commerce and Industry (GCCI), finds that most of its members and businesses in the period 2012 to 2013 have remained profitable and they are optimistic about the economic environment in 2013.

This survey started last year asking respondents to pronounce on issues of importance to the businesses linked to the GCCI, but different questions were added this year to gain better perspectives on public sector corruption, prioritizing of large infrastructural projects and ranking and business performance.
The survey is meant to gauge the positions of members   on a number of topical issues in order to make the Private Sector aware of issues that are beneficial to economic development in Guyana.
It also serves as a database to garner empirical information that helps with private sector planning and it also informs the chamber on business and economic issues that are timely and which may warrant proactive advocacy on its behalf, Urling said.
He pointed out that this is not a report from all across the country but is  reflective of only the GCCI’s membership.
Most of those surveyed reported a breakeven or profitable position in 2011, as well as a positive outlook for the year, the GCCI president told a media briefing yesterday at the  boardroom on  Waterloo Street, Georgetown.
Meanwhile, the findings from the survey are to be used to gauge the needs and concerns of GCCI members and to inform decisions for interactions with government and other policy makers.
He said 65 respondents answered questions related to performance indicators, costs of operations, outlook on the national economy, obstacles to success, access to finance, and government support, etc.
Of the 65 respondents, 91 percent reported a profit position in 2012, and not surprisingly 87 percent rated their firm’s business activities as strong or very strong.
Moreover, businesses are relatively upbeat about 2013 with 71 percent reporting that they expect revenue will increase or remain stable, while another 22 percent expect the favourable conditions to remain the same as in 2012.  Additionally, a high majority (80 percent) reported that they were optimistic about the economy in 2013.

MAJOR OBSTACLES
He added that in terms of the major obstacles to doing business, respondents indentified keeping good employees (42 percent), high tax rates (31 percent) and the high cost and unreliability of electricity (22 percent ) as the three most disadvantageous.
He observed that government’s attitude and support to business came in for high praise with 60 percent characterizing these as either moderately supportive or very supportive.
“Our members perceive levels of public sector corruption to be high (74 percent) while 22 percent held a neutral position on the issue. Striking was the fact that no respondent answered that they perceive corruption to be low. It was also felt that government is not doing enough to curb corruption (88 percent),” he asserted.

LOW SCORE FOR NATIONAL ASSEMBLY
He highlighted that similarly, the National Assembly came in for much criticism with a significant proportion of respondents (83 percent) not being satisfied with its performance in 2012.
As it relates to improving the competitiveness of Guyanese firms, respondents identified political and economic stability (62 percent), improved tax systems (55 percent), infrastructural development (51 percent) and investments in alternative energy sources (35 percent) as major prerequisites and activities.
He continued, that the Amaila Falls Hydropower Project topped the list of priorities the respondents thought the government should be pursuing, followed by the Linden to Lethem Road; construction and development of other interior roads; establishment of a recycling plant; and maritime ports upgrade.
He asserted that after those, the Cheddi Jagan International Airport upgrade and a new Demerara Harbour Bridge, two projects the government is also pursuing, though  allocations for them were cut from the 2013 budget by the National Assembly. A new river crossing is in the pre-feasibility stage.
He said that the respondents even placed a Guyana-Suriname bridge link ahead of the Marriott Hotel project in terms of national priority. Work on the hotel project is already far gone with a completion date set for mid next year.
Nearly three out of every four respondents expect to see increased revenues in 2013 while 22 percent expect revenues to remain stable.