Business confidence for the third quarter of 2015 has seen a significant increase.
It crossed the average indicator point of 100 bases point since the second quarter of 2014 which saw the worst dip of a 78 points shortfall.
The third quarter of 2015 recorded a base rate of 102.30 above the base index of hundred. AGI has described the increase as significant but wants government to do more to move the index higher.
“I think this time round it was able to cross it but just around 102 which statistically means we are actually on the base line and we should work further to go up because we have been there before”.
“if we compare to the previous years, most of the years we have been above the hundred based line now that we are on the base line we should work hard not to slip further but rather go up in the confidence level” the Chief Executive Officer of AGI Seth Twum-Akwaboah told Starr Business.
The Business Barometer calculates the current business mood and expectations for the future.
According to the report employment level will remain virtually the same for the next quarter.
It further stated that the businesses are happy with the single window system which was recently introduced by the GRA but the awareness level is minimal.
The major challenges in the third Quarter were the Cedi depreciation/exchange rate volatility, inadequate power supply, multiplicity of taxes, access to credit and cost of credit.
The report solicited information from 456 business owners and directors in Accra, Kumasi and Takoradi.
By Osei Owusu Amankwah
