A MIXED BAG OF ANXIETIES

While tax worries ease economic woes continue to weigh on corporates in June

Tax burdens continue to be the main business concern, exacerbating the burning issues facing the corporate community. Forty-one percent of polled executives identified high taxes as their primary concern in June – although this reflects a four point drop from May (45%).

In the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, state sector red tape emerges as the second most pressing issue with 34 percent of respondents citing it as a major concern – that’s up six points from the month prior.

According to the exclusive survey conducted in the first week of June, interest rates climbed to third place with slightly over three in 10 (31%) expressing concern, which reflects a 17 point surge from May.

Inflation – which held steady among the top three burning issues – slips to fourth place with around a quarter (26%) of respondents saying it’s a worry. And the brain drain ranks at No. 5 with 24 percent citing it as a concern.

On a national scale, a vast majority (74%) continue to view the economy as the foremost worry, reflecting a four percentage point spike from May.

Anxiety over the cost of living sees a sharp rise, more than doubling to 56 percent in June from only 25 percent in the month prior – that’s a massive 31 point increase.

Meanwhile, the plight of daily wage earners remains unchanged in its ranking from May with 36 percent of poll participants citing it as a worry, which represents a 16 percent rise.

And the brain drain drops to No. 4 with a quarter (25%) citing it as a concern while the education system rounds off the top five; it was mentioned by 18 percent of respondents.

– LMD