Last week government issued a “Business Conditions Survey” designed to “capture changes in the business conditions and assess the current state of the economy.”
The survey consists of 11 multiple-choice and open-answer questions asking whether metrics have improved or deteriorated over the past six months in areas including sales, profits, employment, investment, production, supply, and computerisation, government announced July 10.
Business owners are also asked what industry their business is in; how many females and males are employed; and how many people are employed full-time and part-time. The survey goes on to ask for business owners’ opinions about the Virgin Islands economy, including whether business conditions have improved, remained unchanged, or deteriorated over the past six months and what their outlook is for the next six months.
Gathering input
The survey comes amid a larger effort by the new government to assess the territory’s economy and its business processes.
In recent weeks, Deputy Premier Lorna Smith — who is also the minister of financial services, labour and trade — has been hosting a series of district consultations about how government can support the territory’s business community. Ms. Smith has also said that a review of the work permit system is under way and that she has been meeting regularly with banking leaders to see how banks can better serve residents.
Business issues are also scheduled to be discussed when the House of Assembly resumes its current sitting, though a date hasn’t been set yet.
Ministers are to face questions about banking, trade licences, employment and other topics during the question-and-answer segment. Most of the business-related questions will be directed towards Ms. Smith.