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. Jane Dellar, Chief Executive of the Isle of Man Chamber of Commerce, said:

“The Business Barometer provides 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. The Business Barometer is based on a representative sample spread across all sectors of the Island’s economy and the data will also be included in the Government’s quarterly economic report. Therefore, the Business Barometer ensures that the economic realities experienced by Chamber members are taken into consideration in the decision making process.”

Key findings in the Q1 survey include:

• When asked about the prospects for their business in the next 12 months, 16.49% 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.
• On the subject of headcount,

The full results of the survey can be viewed at http://www.iomchamber.org.im/public/latest-news/business-barometer-q1-survey-results.aspx.

For more information about Isle of Man Chamber of Commerce go to the website or call 674941. The Chamber’s office at Athol House, Athol Street, Douglas, is open 9am to 2.30pm Monday to Friday.