FSM-Wide Business Survey Being Conducted

PALIKIR, Pohnpei (The Kaselehlie Press): May 30 – June 13, 2002 – You probably know about the population census but do you know about the business survey?

Private businesses are becoming more important in the FSM these days. That is why the Division of Statistics of the Department of Economic affairs is conducting the 2002 survey of businesses, May 27 to June 28, 2002. The survey will do much more than just count businesses, as it will also measure the many contributions that businesses make, such as providing jobs for workers, income for business owners, and purchasing goods and services from other businesses. The role of private businesses in the FSM economy will be better understood and appreciated as a result.

The aggregate results of the business survey will be available to everyone. Such results will improve the understanding of economic growth in the FSM and will help both the national and state governments to set policies that will support the private sectors in allocating resources and formulating market strategies. Businesses will be able to use the statistics, for example, to work out their market share or even to help make a good case for measures that will support business development the FSM.

The survey questionnaire is quite detailed. Business owners should understand that complete information from each business is needed for the statistics to be complete and meaningful. Conducting a survey is like building a house. Just as the house needs many individual concrete blocks all shaped and sized correctly, the survey is built with the information from many individual businesses, each containing just the right details. If information for an individual business is missing or incorrect, it will be like having a hole in the wall of the house. That is why it is important that each business supplies the information being asked during the survey completely and correctly.