In order to measure the business sentiment, the Board of the Chamber of Commerce in Gibraltar realized a survey in which respondents were questioned about their achievements so far and their future plans in the country. Our company formation agents in Gibraltar can assist foreign investors to open companies on the Rock.
The Gibraltar Chamber of Commerce was mainly interested in finding out how foreign investors perceive the country, their future plans to continue doing business here and what they consider the authorities could improve. Based on these elements, the Chamber selected respondents from most of the business sectors. Both employers, companies in Gibraltar, and employees, local and foreigners, were questioned in order for the report to be representative for the whole country.
Employees of Gibraltar companies seem to be content with the employment conditions in the financial and wholesale retail industries, as 94% in the financial sector and 83% in the wholesale retail industry declared. Moreover, 90% of the whole individuals interviewed said that Brexit is highly likely to increase the employment levels in Gibraltar.
Businessmen were next on the Chamber’s list in the business performance section. 69% of the company owners participating to the survey announced an increase the sales. When asked about future predictions, 83% of the participants reported they expect an improvement in sales numbers, as well as in the business conditions.
One of the most stringent issue is UK exiting the European Union which was granted a special place in the survey. While respondents had some doubts about how the process would affect Gibraltar, they were overall pleased by the services they received from the authorities during the period of uncertainty and by how they were answered the questions. They also reported that the government could reduce the administrative and the licensing burdens which should be completed online.
As a conclusion, the Chamber of Commerce announced the business sentiment is strong, with 83% of the respondents saying so, and the Board will try and make the changes suggested by the business community.
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