Reports

25 November 2011

The Solomon Islands Chamber of Commerce and Industry (SICCI) is pleased to release the 2011-2012 Business Confidence Report on 25 November 2011. The Survey attempts to discern the confidence that members of the business community in areas relevant to businesses. The Survey sought the views of SICC members overall business performance, major constraints, perceived business improvements, domestic and international developments and their perception of government departments. It must be noted that the Survey was conducted prior to recent change in government and is NOT a reflection of the view of members on politics.

The returned questionnaires revealed confidence in the growth data and a strong resilience despite the domestic and international obstacles they faced in their business operations. This was evident in the rise of all confidence indicators, namely profits, gross sales revenue, staffing levels, average wages and capital investments. The findings in the Survey also reveal that the major constraints that inhibited business growth included the rise in overheads and utility costs, as well as the increased competition from low cost competitors. The respondents to the Survey also highlighted key areas that would improve the viability of their businesses, which included the need for a better skilled workforce, as well as lower cost and efficient utilities services.
SICCI members also noted that an improved work culture, introduction of training programs (up-skilling) and investment in a better qualified workforce were critical factors undertaken by the businesses as a means to sustain growth.

In terms of member’s dealings with the government departments, the Survey revealed that they remained skeptical of any immediate improvements with the majority stating that the expectations of government performance in the next year as well as their current handling of the economy were “about the same.” The results from the Survey suggest that the factors, which impacted their confidence in the government, were the lack of transparency and accountability, along with an unprofessional public sector. The respondents also remarked that the focus for the Government in the coming year should be on improving business growth environment, control of corruption, and improving the infrastructure within Solomon Islands.

Download the Full Report (1.88MB PDF) here.