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The Dominica Association of Industry and Commerce (DAIC) has unveiled the findings of its Q1 2025 Business Performance Survey, offering a critical snapshot of the current economic landscape and private sector sentiment across the island. Conducted between April and May 2025, a DAIC press release indicated that the survey collected insights from 42 businesses spanning various sectors, including tourism, wholesale and retail distribution, manufacturing, professional and financial services, and information technology.<\/p>\n
According to the organization, the report reveals a challenging start to 2025, characterized by a polarized business environment. Over 40% of respondents reported a decline in sales compared to the first quarter of 2024. Conversely, 28.6% experienced improved sales. Many businesses continue to grapple with rising operational costs, cash flow issues, and limited access to financing\u2014particularly within the small and medium enterprise (SME) segment, as summarized by the release.<\/p>\n
Executive Director of DAIC, Ashma McDougall, who also leads the survey, highlighted key findings, notably the notable absence of participation from the agriculture and fishing sectors. She asserted the importance of broader engagement in future surveys to better reflect the full spectrum of the private sector\u2019s realities.<\/p>\n
\u201cWe are excited to publish this report,\u201d McDougall stated, \u201cas it represents a meaningful step towards more data-driven policymaking in Dominica. While we would have welcomed broader participation across all sectors, we view this publication as a foundation for ongoing improvement,\u201d remarked McDougall.<\/p>\n
She also underscored plans to enhance outreach efforts, noting, \u201cMoving forward, the Chamber will intensify its in-person outreach efforts to ensure wider engagement. Ultimately, these reports are intended to serve as practical tools to guide policy and foster stronger private sector development, for the benefit of the entire economic ecosystem.\u201d<\/p>\n
The report highlights several critical issues facing the private sector:<\/p>\n
– Inflation and Energy Costs: The most cited challenges, affecting 67% and 74.5% of businesses respectively.
\n– Labor Market Constraints: Two-thirds (66.7%) of businesses did not undertake recruitment, with approximately one-third citing difficulties in sourcing skilled labor.
\n– Gender Leadership: An encouraging 65.6% of surveyed businesses are led by women, showcasing strong female leadership across the private sector.
\n– Operational Challenges: Access to fiscal concessions, complex customs processes, and rising business input costs are significant concerns hampering growth.
\n– Policy and Workforce Development: A growing number of businesses are calling for simplified application processes for government incentives and better alignment between training programs and industry needs.<\/p>\n
President of DAIC, Brenton Hilaire, emphasized the usefulness of the survey as a tool for advocacy and policy formulation.<\/p>\n
\u201cThis report is a step forward in giving voice to the realities our private sector faces. It\u2019s the beginning of a quarterly pulse check that will inform smarter advocacy, stronger support, and resilient growth for Dominica\u2019s growing business community,\u201d he remarked.<\/p>\n
McDougall further pointed out that rising operational costs remain a persistent concern. As the country approaches its pre-budget consultations, DAIC has outlined targeted recommendations aimed at easing these burdens, stimulating growth, and improving competitiveness.<\/p>\n
\u201cWe believe these prescriptions can help shape a more enabling business environment that supports innovation, investment, and long-term economic resilience,\u201d she concluded.<\/p>\n
The DAIC\u2019s recommendations include:<\/p>\n
– Increased investment in skills development and productivity measurement.
\n– Enhanced communication and outreach regarding incentive programs and financing options.
\n– Facilitated dialogue on energy reform and trade policy impacts, such as Article 164 of the Revised Treaty of Chaguaramas.
\n– Strengthening industry-academia partnerships to address skills gaps.<\/p>\n
The DAIC encourages stakeholders to review the full report and engage in ongoing dialogue to foster an inclusive, supportive, and dynamic business environment in Dominica.<\/p>\n
Find full report below:<\/p>\n