The Business Confidence Index (BCI) 2022-2023 report assesses the sentiment of 167 key industry leaders in Bangladesh’s economy across 25+ industries, including MNCs, local conglomerates, start-ups, and SMEs. The study reflects the country’s journey amid the global geopolitical turmoil, in particular, affected by the Ukraine-Russian war.
Despite facing structural shifts, Bangladesh’s private sector has shown a positive outlook in cumulative business sentiment – an overall score of +6.69. Interestingly, the local SMEs have fared better (+14.91) than local conglomerates and MNCs (+6.31). The difference in scores is mainly driven by external factors as the performance of the larger organizations tends to fluctuate more significantly with the changes in the global market.
While the 2023 BCI remains positive, it is relatively lower than the previous year (+28.69), indicating a subtle deceleration in overall business sentiment. Slower economic growth, rising costs, and reduced consumer demand have contributed to a lower but positive confidence index this fiscal year.
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Note: This report was originally published on the LightCastle Partners website.
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