This Pre-Budget 2018 report examines what companies are doing in the midst of this evolving environment and what can be done to help them develop into enterprises of the future. In August and September 2017, we surveyed 60 business leaders from various sectors of the economy for their perceptions of the business environment and the fiscal regimes that affect their business. The sectors included construction, transport and logistics, financial services, hospitality, manufacturing, mining and petroleum, pharmaceuticals, retail, technology and other miscellaneous businesses, including multinationals, local companies and small to medium sized enterprises. Some concerns of the business community include access to credit/cost of credit, cost of clearing goods at the ports, cost of utilities, cyber security, forex stability, internet connectivity, tax incentives and unfair competition. We hope the insights from the research will help the Government with their deliberations and provide valuable feedback in the lead-up to the 2018 Budget.
This pre budget survey comes at a time when many firms are adjusting to a slowly improving economy, global macro uncertainties and technological disruption. It is a subdued period for many businesses but there have been some interventions by government including tax reliefs and proposals for social and infrastructural reliefs that provide fecund seeds of a growing economy. It is encouraging to note the growing interest in, and adoption of technology as businesses transform in response to, and in preparation for an emerging digital age.
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