A one day seminar organized by Building Markets in collaboration with the Liberia Institute for Statistics and Geo-Information Services or LISGIS, on business accounting data collection has ended in Monrovia.
The event, held recently in Monrovia, brought together businesses, Building Markets and LISGIS executives as well as representatives from the Central Bank of Liberia, Ministry of Finance and Development Planning, and the Ministry of Commerce and Industry, respectively.
Participants were informed of a pending business establishment counting and data collection to be undertaken by LISGIS. LISGIS executive director, Dr. T. Edward Liberty said data to be collected was not for tax purposes but to produce information that will help policymakers and businesses in making sound decisions.
Dr. Liberty added that the National Establishment Census or NEC will help to calculate reliable National Accounts and income statistics (including Gross Domestic Products [GDP] and that information collected will remain confidential.
On the scope of the exercise, participants were informed that the information will be collected from any person(s), natural or legal corporations, business houses, NGOs/INGOs, UN Agencies, EU, USAID, IMF, World Bank, among others that are operating in Liberia, including government Ministries, Agencies and Commissions or MACs.
Accordingly, LISGIS will begin reaching out to Liberian businesses to conduct nationwide business census (National Establishment Census) and business health survey, and that data collected will be used as sample frame for business surveys to gain broad understanding of the local business landscape and early warning of the economy, which will in turn, help inform government for policy interventions.