AN ANNUAL business survey conducted by the States will lead to better economic planning, according to local business figures.

Earlier this month the Policy Council, together with Commerce and Employment, announced that it wanted to improve the economic data available to policymakers.

The form, which goes out on 22 February, will ask businesses for details of turnover, sales, assets owned, financial liabilities, workforce, training and pensions as well as data on export earnings and information on the levels of investment in local businesses.

This together with estimates from companies for growth in 2010 and what factors could impact on their growth will give an idea of the sensitivity of sectors to changing economic conditions.

Chamber of Commerce president Paul Luxon (pictured) said the creation of a States business survey was a positive step.

The group has run its own business trends survey for the past 10 years and Mr Luxon believed the two would complement each other.

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