Businesses risk shutting down if current trends persist as the Association of Ghana Industries (AGI) revealed business confidence had waned to the lowest in the last five years.
This was contained in their Business barometer report released for the second quarter of this year.
The business barometer report measures the level of confidence in the business environment and predicts short-term business trend.
The second quarter of the year recorded a decline in the confidence index to a little over 22 points. This represents a 78 points shortfall from the base index of a hundred.
In the first quarter of the year, the index dropped from 102 recorded the last quarter of 2013 to 90. At that time it was the lowest confidence level recorded since 2010.
Erratic power supply, high taxes and the fast depreciation of the cedi are some of the reasons attributed to the decline in confidence.
Business World (with notes from citifmonline)