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 2002.

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 Questionnaire.

Responses 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.

 

Among 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.

Thirty-three 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.