A recent survey report published by Business Initiative Leading Development (BUILD) claims: overall business confidence of the country during second half of 2014 dropped to 9.35 percent from 9.74 percent, a 0.39 percent slips from previous half. This is third survey report published by BUILD under the title Bangladesh Business Confidence Survey (BCS). The report was revealed in a program organized by BUILD at Dhaka Chamber of Commerce Auditorium on Thursday.
The report says: "The overall business confidence index for July to December 2014 (9.35) was lower compared to that of January to June 2014 (9.74),” and such falls was caused by political situation, electricity prices, transportation situation and cost, corruption, interest rates, petroleum prices and profit tax rates. It also added decline in confidence about input and infrastructure, business environment, access to finance, legal environment and business regulation as causes for the decline in confidence index.
The survey has been conducted between February 06 and March 06, 2015. It covered 400 businesses in Dhaka and Chittagong from sectors like manufacturing and service enterprises in food, textiles, garments, leather, chemicals and pharmaceuticals, electronics and light engineering, wholesale and retail, hotel and restaurants, transport and communications, cyber and telecommunications and real estate.
Presented by BUILD CEO Ferdaus Ara Begum, and Associates for Development Services Limited (ADSL) research coordinator Syful Haque, Business Confidence Survey aims high and wants to capture the pulse of the private sector's perceptions regarding the state of their operating environment.
Investment decisions are significantly influenced by business confidence. If businesses and investors feel uncertain about the future, they will not invest or postpone their investment decisions for a stable future. Understanding confidence among businesses and business climate is critical to understand investment prospect and new business entries.
It requires a stable political situation, smooth regulatory process, and transparent system to new businesses to grow. Continued effort needs to be in action to ensure better business climate and regulatory support to give way to new businesses to grow and investments to come.
A report like that of BUILD business Confidence survey let you see the real picture and give you priorities to check off to make things better.
