POND ISLAND–Economic Affairs Minister Stuart Johnson urges businesses to fully participate in the ongoing Economic Census Survey (ECS) conducted by the Department of Statistics STAT.
The survey, now in its final stages, has already yielded some results from the visits to some 1,400 entities. It was found that more than 390 were closed and new businesses were opening in the food service sector. New establishments were concentrated in and around Philipsburg and Simpson Bay.
The legal forms of the new businesses were 24 per cent sole proprietorship, with limited liability companies, referred to as “NVs “and “BVs” in Dutch, accounting for 28 per cent (NVs) and 31 per cent (BVs).
Johnson said the information collected in the ECS is very important for government and local and international entities to understand the state of the economy and to plan for the future.
The ECS is an internationally used tool to collect and report on the number of business establishments according to their size, economic activity/industry, and location. The 10-week survey, which started in May, is a main data source for creating a comprehensive statistical business register system, calculating more accurately the gross domestic product (GDP), and obtaining data on the number and distribution of economic establishments by industrial category, region and number of employees.
Source: The Daily Herald https://www.thedailyherald.sx/islands/78161-businesses-urged-to-participate-in-economic-census-survey
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