The Guyana Business Outlook Survey has been an annual exercise
conducted by Ram & McRae for the past eight years.
While this Survey was not designed to produce statistically valid
findings, it contains responses from a wide cross section of the business
community. We hope that the results, our analysis and comments will serve
as a useful tool as businesses and policy makers plan their strategies for
This year's Survey elicited forty-three responses or 47% from a total
of ninety-two questionnaires sent out. This is similar to the response in
2001 when 45% of the survey group completed and returned the
came from companies covering the whole spectrum of the economy including
distribution/retail 23%, manufacturing 22%, services 22%, agriculture 12%,
financial services 10%, construction and architecture 7% and mining 4%. Note
that some companies are involved in more than one sector.
the responses, 13 companies (30%) have an annual turnover in excess of
G$1Bn, five (12%) of between G$700-1000Mn,
three (7%) of between G$600-700Mn, five (12%) between G$500- 600Mn and
three (7%) between G$400-500Mn. Fourteen (32%) had turnover below $400Mn.
of which four were below $50Mn.
Sixty-seven percent (67%) of the respondents are engaged in domestic
sales while the remaining thirty-three percent (33%) are engaged in
varying degrees of export. This coincides with the results of the 2001
Survey where 64% of the respondents had a domestic focus and 36% were
involved in regional/international business.
Twenty-two companies (52%) had a change in the size of their workforce
in 2001, a smaller percentage compared with 2000. Among those with
changes, 8 companies (36%) had increases averaging 10.5% and 14 companies
(64%) had decreases averaging 17% in the size of the workforce.
Of the respondent companies one (2%) has in excess of 1000 employees,
four (9%) between 500 and 1000 employees, ten (23%) between 250 and 500
employees, eleven (26%) between 100 and 250 employees, seven (16%) between
50 and 100 employees and nine (21%) with under 50 employees. One
company did not answer this question.
of the respondents (79%) indicate that they prepare a formal business
plan. Of these companies, 14 (40%) prepare their plan over a three-year
period, ten (29%) for one year, 5 (14%) for 2 years, 5 (14%) for five
years and one 3% for more than five years.
The majority of respondents (54.8%) consider that they are exposed to a
great deal or fair amount of competition compared with 60.0% last year.
Ten respondents (23.8%) consider that they are exposed to very little
competition while 19% feel that they are not exposed to any competition at
all. One respondent was unsure of any competition.