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The Institute of Directors in Guernsey has opened its second economic confidence survey to gather data into business sentiment in the Bailiwick.
The 'Economic Pulse' survey, which is open until Monday 4 November aims to build a picture of trends and the impact of changing local and international factors on businesses in the island from business leaders.
Results from the first survey, launched in June, revealed that business leaders felt confident in their own organisation’s prospects over the next 12 months, despite revealing a negative sentiment towards the island’s overall economic outlook.
Pictured: The first IoD Directors' Economic Confidence Survey received feedback from over 20% of the IoD's membership.
Respondents rated air and sea links, cost and availability of labour and skills shortages/skills gaps as their top three concerns, followed by shortage of housing for employees and compliance with government regulation.
Economic Development responded directly to those results which were then taken into consideration by the States Data and Analysis Service when putting together the island’s 2024 GDP forecast.
The responses also informed the IoD’s response to island policy matters.
In the second survey IoD members are asked to state the industry they work in and the size of their organisation, followed by questions on their confidence in the Guernsey economy and their business over the next 12 months.
Questions cover expectations for revenue, costs, profits, headcount and investment as well as a list of the top five challenges affecting their business.
The results will be released in mid November.
"We were very encouraged to see deputies and civil servants respond to the first set of data and now we can start to build a picture of the trends, of both local confidence and the impact of external factors,’ said Richard Hemans (pictured top), the IoD’s local lead on the economy.
He continued: ‘This kind of information is both a helpful benchmark within the local business community, but also provides up to data information for our government which is critical for policy decision making.’
The second 'Economic Pulse' survey will close on Monday 4 November and can be found HERE
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