By Fareeza HaniffThe Ram & McRae Guyana Business Outlook Survey 2010 has found that almost 59 businesses had a turnover of between $50 million and over $1 billion for this year.The survey reported that the manufacturing sector was the most dominant in this area. The 59 respondents to the survey came from all ten administrative regions.At the launching of the survey yesterday, partner and soon to be Chief Executive Officer (CEO) of Ram and Mc Rae, Rakesh Latchana,Cheap Nike Shoes From China, said that the survey was not designed to produce statistically valid findings, but it is believed that the number of respondents, the sectors in which they operate and the size of their business measured by assets and turnover, reflect a reasonably representative view of the private sector.The survey also shows that in some quarters the respondents reported confidence levels higher than from one year ago but slightly over half of the respondents were not confident that the economy would improve in 2010.Respondents from the manufacturing sector reported more confidence than non-manufacturing respondents and similarly,James Conner Jersey, exporters reported more confidence than non-exporters.According to Latchana, the services sectors reported the overall lowest levels of confidence.In the survey, respondents were asked to rate ten national and international issues that arose or prevailed in 2009 that may have affected their optimism. The prospects for global economic recovery and the Low Carbon Development Strategy (LCDS) encouraged optimism while levels of crime, inflation and consumer confidence were cited as reasons for pessimism.Sixty-six per cent of respondents had projected an increase in turnover for this year, while 64 per cent projected increase in profitability.But as the year is coming to an end, 29 per cent of the respondents are reporting that performance was worse than expected, with 61 per cent in line with expectations, and 10 per cent reported performance exceeding expectations.According to the survey, 32 per cent of the businesses reported a decline in their workforce while 26 per cent reported an increase.From a list of sixteen issues, respondents were asked to identify those that are likely to have the most and the least impact on their businesses in 2010. By an overwhelming margin,Football Jerseys Cheap, the issue considered as having the most impact is Consumer Spending Power, followed by the price for fuel, finding new customers/markets, direct tax rates and electricity supply and rates.However,Vapormax Plus Nere, according to the survey, inflation and crime, although driving pessimism were not ranked in the top five issues to affect respondents’ businesses in 2010. By contrast,Patriots Super Bowl 53 Jersey, the issues identified as having the least impact include availability of financing, technology,Cheap Jerseys USA, corruption in government departments, prospects for international recovery; and global financial crisis.It was noted that 46 per cent of respondents project no change in the level of their operations while 54 per cent project an increase — significantly,Zapatillas Nike Baratas Espa?a, none of the respondents project a decrease.The survey found that the principal reasons given by those not expecting a change in their level of operations were the performance of the economy, the global financial crisis and tax policies of the Government. The principal strategies for those expecting an increase are new products/services development, upgrading of technology and improvement to existing products.According to the survey, 83 percent of respondents expect turnover to increase in 2010 while 76 per cent expect profitability to increase. Nine percent and seven percent expect decreases in turnover and profitability respectively.
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