Guyana Business Outlook Survey has been an annual feature conducted by
the Accounting & Professional Services Firm of Ram & McRae
for the past six years. Those who have followed this series would recall
that there was an absence in 1998 following the unrest arising out of
the December 1997 elections.
We are pleased to offer
the fifth and increasingly popular publication of the Business Outlook
Survey. Though this year’s Survey has seen a decline in the number of
respondents, we consider it representative enough of the views of a wide
cross section of the local business community and are sure that the
results along with our analysis and comments will be useful to both
local and foreign businesspersons.
This year questionnaires were sent to one
hundred and six (106) companies covering a wide spectrum of economic
units across various forms of ownership and activities. Up to the date
when responses were compiled forty-five (45) companies or 42.5%
companies submitted responses which are included in this Report.
Of the companies
responding, twenty (20) or forty-four percent (44%) represented the
retail/distribution sector, thirteen (13) or twenty nine percent (29%)
were from the manufacturing sector, seven or sixteen percent (16%) were
in the construction/architecture business, six or thirteen percent (13%)
were in mining whilst there were also respondents from tourism and
leisure, agriculture, insurance, banking/finance, advertising,
consulting/ professional services, printing & publishing, fisheries
and media sectors.
The Survey group
comprised companies having varying levels of turnover. The largest group
of sixteen (16) companies or thirty-six percent (36%) had an annual
turnover of over one billion dollars, four or nine percent had turnover
between $700M and one billion dollars, three or seven percent (7%)
reported income between $500M and $700M, ten or twenty-two percent (22%)
between $200M and $500M, one between $100M and $200M and ten of income
less than $100M. One respondent did not indicate its turnover.
Of the Survey group
twenty-nine percent (29%) had a strictly domestic focus and seventy-one
percent (71%) were involved to varying degrees in export.
In terms of size of the
workforce, most respondents (40%) have a staff of fifty (50) persons or
less, eight between 51-100 persons, fifteen (15) between 101-500
persons, three between 501-1,000 and one above 1,000 employees.
This Survey Report is available to all
members of the business community as well as members of the public who
may be interested. Copies may be uplifted from our Office on Waterloo