The Chamber of Commerce has revealed the results of its first ‘Business Barometer’ survey which provides data on a broad cross-section of the Island’s business sectors.
More than 100 Chamber members responded to the first quarterly survey.
The Barometer is designed to provide up to date information on the state of the Island’s economy, and statistics from the survey will be available for anyone to view on the Chamber website.
When asked about the prospects for their business in the next 12 months, 16.49% of respondents said they were ‘very optimistic’, 50.52% ‘optimistic’, and 8.25% ‘pessimistic’. None of the respondents were ‘very pessimistic’ and 24.75% were neither optimistic nor pessimistic.
36.17% of respondents said that Q1 2014 had been better for their business than Q1 2013, based performance indicators such as sales, turnover, new business or deposits. 18.09% said their business had performed ‘significantly better’, 11.7% said it was ‘worse’, and 1.06% ‘significantly worse’. 32.98% of respondents said Q1 performance indicators were the same for this year and last year.
The full results of the survey can be viewed at http://www.iomchamber.org.im/public/latest-news/business-barometer-q1-survey-results.aspx