Local businesses show confidence

A local business confidence index survey has found that a majority of domestic businesses retain strong confidence in revenue increases over the next 12 months.

The survey, jointly conducted by the WVB Financial Information Service Company and PVFC Invest, reported that half of the 150 businesses asked believe that their revenues will rise in the next 12 months.

Accordingly, 51 percent of the businesses, which operate in 11 key areas, said they will not cut back on their workforces in the next year, while 17 percent said they have planned layoffs.

Moreover, 47 percent of the interviewed businesses said they plan to inject more capital into their businesses, while 35 percent said they plan to keep the current investment level.

The survey also showed that 47 percent of the businesses are in dire need of bank loans for expansion plans, and all believe in the effectiveness of the government’s stimulus measures, including the loan interest rate subsidy programme.

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