Page 9 - Bus365 Issue 11 2021 WEB
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ISLE OF MAN PULSE SURVEY
SHOWS OPTIMISM
The results of the second Pulse survey are now in and it suggests an optimistic outlook for the Isle of Man
economy. The Isle of Man Pulse survey, run by KPMG in the Crown Dependencies and in association with
the Institute of Directors, is now freely available to read and download online.
he optimism extends from many of the • 44% of Isle of Man businesses surveyed
surveyed businesses indicating increased experienced increased o -island activity,
To -island activity and all business sectors compared to 26% in the last survey.
expecting increased turnover over the next • Across the island’s business sectors, many
year. This is a welcome shift in trend to recent expect turnover to increase in the next
times, following di cult trading conditions 12 months despite feeling their business
during the continued pandemic. Whilst there growth was constrained at the time of the
are still sectors which are depressed, such as survey.
Retail and Hospitality, there is no doubt the • In both of the surveys to date, 69% of
broader economy feels like it is turning the respondents said they would not change
corner. Other challenges still remain, such as the Isle of Man border policy, despite noting
changes to international tax policy and tackling some trading di culties.
e ective Environmental, Social and Corporate • The majority of businesses expressed
Governance (ESG) strategies, and the survey concern that changes in international tax
responses o er a barometer reading on local may impact the Isle of Man economy.
feeling for these key board agenda items. • Manx businesses with an ESG plan in place
are very much a minority. Survey responses
suggest a lack of knowledge and data is
the reason for this.
The report includes expert analysis and
commentary from KPMG’s data scientists, along
with 18 pages of survey data and results, o ering
detailed insights into the island’s business
Optimism and increased focus on ESG are sectors.
mirrored in the recently released KPMG CEO
Simon Nicholas, Partner and Head of Clients and
Outlook survey, with growth and expansion Simon Nicholas
and ESG front and centre in most business KPMG in the Crown Dependencies Markets at KPMG in the Crown Dependencies,
commented, “At the time of the survey, some
plans. The global report fi nds that CEOs are
businesses were improving and prospering
incredibly confi dent in the growth prospects of
The Pulse as COVID restrictions were eased, yet others
their company and the international economy
in general. Thus whilst we often think that our indicated they were constrained by an inability
economy is di erent to the rest of the world, it’s report o ers to access clients due to the remaining COVID
clear that the ‘Isle of Man’ economic experience real local restrictions and border policies that were still in
is being mirrored around the world. place earlier in the summer. But, overall, there
results, unique is an optimistic feel to the second survey. The
The Pulse report o ers real local results, combined results from the surveys so far are just
unique and relevant to the Isle of Man and its and relevant starting to deliver some real trends and insights,
economy, and includes responses on topics and the power of the survey will only build with
such as business growth, turnover expectations, to the Isle of time as we collect more data.”
reactions to Manx border controls, tax policy Man and its
and ESG plans. Based on data received prior to The report is freely available at home.kpmg/cds
the summer, the key highlights from the second economy
survey include:
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