The cost of doing business takes centre stage amid a historic fall in inflation!

It is ironic that at a time when the official rate of inflation plummeted to a historic low of 0.9 percent in March, the proportion of businesspeople that say it’s the most compelling issue for business jumped from 44 percent to two-thirds (66%) a month later – in April.

The latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey also reveals that high taxes now take precedence over interest rates with 39 percent of respondents highlighting it as a major concern – i.e. a rise of seven percentage points compared to the preceding month.

According to the exclusive survey conducted in the first week of April, interest rates fell to third place on the anxiety scale. Thirty-eight percent of polled executives expressed negativity about the tax regime, marking a two percentage point increase from March.

Meanwhile, political interference surfaced as a concern, ranking fourth with nearly three in 10 (29%) highlighting it as such. Additionally, 22 percent of participants expressed apprehension about the escalating brain drain and its repercussions for business.

On a national scale, the economy emerges as the primary concern with a majority (69%) saying so. This marks a slight decrease of three percentage points from March.

Ongoing concerns regarding the cost of living also maintain significance among biz executives with an increase of five percentage points (to 57%) in April.

And the prevailing political culture retained its position as the third most pressing issue for the fifth consecutive month, increasing to 51 percent (from 49%) of the sample population.

Bribery and corruption ranked fourth at 21 percent, followed by poverty in fifth place (15%).