ACCA Caribbean study: Credit crunch lowers confidence

PORT OF SPAIN, Trinidad - Confidence is low among Caribbean businesses, with only the largest companies reporting signs of an upward swing in prospects for the future, according new research. The Global Economic Conditions Survey from ACCA (Association of Chartered Certified Accountants) and the Institute of Management Accountants (IMA), which gauges the views of finance professionals across the world, revealed that the Caribbean’s business community had little to feel good about in first quarter of 2013.
The global survey of 2,000 finance professionals working in businesses of all sizes showed that in the region just 23 per cent said they were more confident about the prospects of their organisations, while 31 per cent reported a loss of confidence. Emmanouil Schizas, Senior Economic Analyst at ACCA, said: “Globally, finance teams, who have their fingers on the pulse of business, have reported glimmers of hope for the future. The Caribbean region, however, while still reporting confidence gains, has a more subdued outlook.