Friday, October 22, 2021

Entrepreneurs Optimistic About Economic Recovery

By on May 21, 2021

SAN JUAN — Although most businesspeople in Puerto Rico surveyed by Estudios Técnicos, Inc., around 80.8%, believe Puerto Rico is in a recession, they are beginning to say they are optimistic about the recovery with expectations of hiring employees, expanding operations, and increasing sales.
“The Confidence Index of the Puerto Rican Entrepreneur has improved in 2021 to reach 56.5 compared to 47.7 in 2020. Likewise, the confidence expectations of entrepreneurs this year are at 69.3, an increase from 59.9 last year. They are positive signs that perhaps show a light at the end of the tunnel, after all the negative impact of the COVID-19 pandemic,” said José Joaquín Villamil, Chief Executive Officer of ETI, when presenting the study prepared for the Puerto Rico Chamber of Commerce.
The impact of COVID-19 is notable in the survey, as 16.2% of those surveyed said they have had to close or stop operations in the last six months for an average of 131 days. Even so, this is a lower figure than the 43.3% that had to close in 2020. Another notable fact is that half of the people consulted, 50.8%, said that a member of their company had contracted COVID-19. In 2020 that number of infections had been lower, 28.7%.

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