Business not doing enough to fight crime says IOB study

The business community is not doing enough to fight crime, according to the Institute of Business (IOB). In its Corporate Confidence Index, for the fourth quarter 2003, and which was disseminated to over 200 business leaders and executives during the first two weeks in January 2004, 77% of the executives indicated that the business community is not doing enough to alleviate crime. The response rate for the CCI was approximately eighty-two percent (82%). The key objective of the CCI is to provide the most current and accurate business outlook for Trinidad and Tobago and the global economy along three dimensions:

- Financial Performance
- Employment Trends and
- Investment

CURRENT PULSE QUESTION
Each quarter, CCI gauges executives’ opinion on a pertinent issue impacting their environment. This quarter’s current pulse question was : “Do you think the business community is doing enough to help reduce crime?” Seventy-seven percent of the executives indicated that the business community is not doing enough to alleviate crime whilst 11.6% agreed that they have done their part. Six percent were unsure and 5.4% failed to respond.

Positive outlook for local economy Key Findings
The Q4 2003 CCI indicated that executives’ confidence in the financial outlook of their organisations has increased by 95 index points. However, though the employment index improved from six to 32 index points over the six months period and from 19 to 42 index points over the 12 months outlook, the Manufacturing, Agriculture, Financial, Energy and other sectors is less optimistic about hiring over the six month and 12 month periods than the Construction and Education sectors.

Local Economy Outlook
All components of the CCI improved this quarter. Executives continue to be optimistic about the local economy. Eighty-five percent (85%) of executives in the Manufacturing, seventy-five percent (75%) in the Agriculture, eighty-four percent (84%) in the Financial and Energy, seventy-five percent (75%) in Government and one hundred percent (100%) in the Education and Construction sectors have positive outlooks for the local economy. On the other hand, only sixty percent (60%) of executives in the Transport, Storage and Communications and just thirty eight percent (38%) in Other Sectors have positive outlooks for the local economy. The prospects for the 12-month period are expected to be more promising, particularly in the Manufacturing (97%); Finance (89%); and Construction and Quarrying sectors (80%).
 
Global Outlook
Executives’ outlook for the global economy has improved dramatically from 13 to 93 index points over the six months period and from 36 to 113 index points over the 12 months period. Seventy six percent of executives in Manufacturing, seventy percent (70%) in Finance and ninety percent (90%) in Finance have positive outlooks for the global economy over six months.

Investment Index
The investment index has improved substantially over the period from -12 to 59 index points over the six months outlook and from 28 to 54 index points over the 12 months period. All sectors have indicated that their organisations would be making major capital improvement over the six months and 12 months outlook. Major capital investments were more significant in the Manufacturing (82% in six months and 76% in 12 months); Finance (67% in six months and 72% in 12 months) and the Education sectors (100% increases over both the six months and 12 months outlook).