Am chamtaipei 2012 business climate survey january

AmCham Taipei

2012 Business Climate Survey

Independent Marketing

Chairman’s Message

2 Independent Marketing

“Basic Message from 2012 AmCham Chairman Billimprovements.”
optimism, but spotlighting areas needing Wiseman
“
Message from 2012 AmCham Chairman Bill Wiseman

Our 2012 Business Climate Survey asked 387 voting
representatives from AmCham member companies –
mainly CEOs – to answer about 20 questions in an
online questionnaire. 232 members took part - a 60%
response rate.
In general, the results of the 2012 survey were closely
aligned with those of 2011. Members expressed
optimism about the economy and business prospects in
Taiwan, with nearly half citing plans to increase
investment in the coming year.



If views of the business outlook are slightly less rosy
than a year ago, the driving factor seems to be global
macroeconomic uncertainty and its expected impact on
Taiwan's economy.
Once again, the survey results show that the Taiwan
government deserves commendation for a number of
achievements, including progress in cross-Strait
economic relations, adjustment of the corporate tax
rate to make Taiwan more competitive within the Asian
region, and further strengthening of IPR protection.


But the survey also pinpoints areas where further
efforts are needed to remove what are currently
perceived as serious obstacles to economic growth:

• Human Resources. Shortages of talent are developing in
certain sectors, while constraints remain on hiring
professionals from abroad. More also needs to be done to
cultivate creativity and initiative-taking in the Taiwan
workforce.



• Bureaucratic inefficiencies. Among the problems cited are
inconsistent regulatory interpretations, inadequate or
outdated laws, and lack of transparency.
• Tax structure. Although the corporate tax rate has been
reduced, the high personal income tax rate discourages
foreign experts from accepting assignments in Taiwan. The
incentive system for encouraging R&D also needs review.
High-level government officials have indicated to
AmCham that they recognize these problems and are
working on finding solutions.



We offer the findings of the survey as reference for the
government as President Ma Ying-jeou prepares for his
second term.
In closing, I would like to extend the Chamber’s hearty
thanks to Gordon Stewart of Independent Marketing
Pty Limited for his invaluable guidance in the planning
and execution of this project.

Bill Wiseman
2012 AmCham Taipei Chairman

Executive Summary


Executive Summary – Key Indicators

2012 Forecast
Increased 5 Year
2011 for Revenue
Investment in Business
Profitability & Profit
2012 Outlook
Growth
2010 2011 2011 2012 2011 2012 2011 2012
73.5% 71.9% 81.2% 58.4% 54.3% 42.9% 81.0% 70.3%

Alert! Alert!

*Alert! Statistically significant change from 2011

Executive Summary - Key Takeaways
• AmCham’s Business leaders had a reasonably good
2011 and are focused on (almost 74% of companies
have a primary focus on the domestic market), and
generally optimistic, about the future of their
businesses in Taiwan.
• Many will increase their investment in Taiwan
during 2012. But there is some softening or
leveling-off in their forecasts for longer-term
investment levels and in their prospects for
growing revenues and profits in the short-term.
However, the good news is that these softer
forecasts are counter-balanced by either “Neutral”,
or “Remain the same” forecasts, rather than by
negative ones.

• Bureaucracy! Bureaucracy! Bureaucracy! Is a
common and persistent negative issue for our
business leaders. It is cited throughout this (and
last year’s) survey as having negative impacts,
being a barrier to success and the one major
thing companies want the Taiwanese
government to aggressively tackle. While
recognizing the progress made by the
Taiwanese government in other certain areas,
their belief is that more can be done to reduce,
simplify and clarify government bureaucracy.


• Inter-governmental relations: Our leaders
would like to see, and believe it would be
advantageous if there was: a broadening and
speeding-up of ECFA; a re-engagement on TIFA
talks; a bilateral investment and a taxation
agreement between Taiwan and the U.S.A
• Outside of macro-economic risks, issues
surrounding Human resources are of the most
concern to our business leaders. Specifically, the
quantity, quality and costs associated with their
employment.

Detailed Findings


2011: A Relatively Good Year for Business.

Almost three out of four (71.9%)of our business
leaders assert that their business in Taiwan was
either “relatively” or “very profitable” in 2011. A
very similar response to the one we received in
2010.


How would you characterize your Taiwan business’ financial
performance?

14.3%
Very Profitable
20.5%

57.6%
Relatively Profitable
53.0%

23.8%
Break even or small profit/loss
23.9%

3.0%
Relatively Large Loss
2.6%

1.3%
Very Large Loss
0.0%

2012
Column1 2011


2012: More of the same…
The majority of our business leaders are
forecasting and expect 2012 to also be a
relatively good year. However, growth in
revenues & profits are forecast to occur at a
lesser rate than was forecast last year (from 81%
to 58%). The balance to this is that many more
expect to “Remain the same” for 2012 – rather
than indicating a decline in either revenues or
profits.


What is your Taiwan business’ Revenue & Profits forecast for 2012 compared to
2011?
Substantial growth in both Revenues & Profits 11.0%
17.1%

Substantial growth in Revenues & modest growth in Profits 1.8%
7.7% *Alert!...

Modest growth in Revenues & substantial growth in Profits 0.4%
2.6%

Modest growth in both Revenues & Profits 45.2%
53.8%

Remain the same 22.4% *Alert!...
7.7%

Modest growth in Revenues & no change in Profits 3.1%
2.6%

Modest growth in Revenues & modest decline in Profits 1.8%
2.6%

No change in Revenue & modest decline in Profits 0.9%
0.0%

Modest decline in Revenues & modest growth in Profits 0.4%
0.0%

Modest decline in both Revenues & Profits 9.6%
6.0%

Modest decline in Revenues & substantial decline in Profits 0.4%
0.0%
2012
Substantial decline in Revenues & modest decline in Profits 0.4%
0.0% 2011
Substantial decline in both Revenues & Profits 1.3%
0%

0% 20% 40% 60%
*Alert! Statistically significant change from 2011


Short-term investment : Softening?

There does appear to be some softening/
flattening in planned investment levels - with
only 43% saying they will increase their entity’s
level of investment in 2012 either “slightly” or
“substantially”. This compared to 54% last year.
Statistically, this is bordering on a significant
drop.


What is likely to happen to your entity’s level of investment
in Taiwan over the next 12 months?

Substantial Increase 10.0%
16.4%

Slight Increase 32.9%
37.9%

No Change 40.7%
36.2%

Slight Decrease 12.6%
5.2%

Substantial Decrease 2.2%
3.4%

Don't know/can't say 1.7%
0.9%

2012 2011


Unfortunately, or realistically…
…Taiwan is generally viewed as “Not a high priority”
back at the global head office. Perhaps this also
inhibits greater investment. We said last year that
Taiwan needs to better position and market itself to
try and gain some more global attention. Changes
to: taxation rates; improvements to direct foreign
investment rules and incentives; research &
development incentives; and lowering some of the
bureaucratic barriers, may go a long way here.


How does Taiwan fit into your global entity’s investment plans?
2012
#1 Priority 10.3%
5.2% 2011

In the top 3 9.9%
6.9%

In the top 5 6.9%
9.5%

In the top 10 14.7%
11.2%

Not a high priority 45.7%
54.3%

Looking to reduce investment/disinvest 2.6%
2.6%

10.3%

0% 10% 20% 30% 40% 50% 60%


Looking forward five years…
Whilst the vast majority (70%) are “optimistic” or
“slightly optimistic” about their five-year business
outlook in Taiwan, there has been a statistically
significant drop in this score compared to a year
ago, with many taking a more “Neutral” position.
Further suggesting that there is a growing
cautiousness in regards to their future business
prospects.


How would you describe your five-year business outlook for Taiwan?

Optimistic 27.6%
29.3%

Slightly Optimistic 42.7%
51.7%

Neutral 21.6% *Alert! Statistically significant change from 2011
2012
6.9%
2011
Slightly Pessimistic 7.3%
9.5%

Pessimistic 0.9%
2.6%

0% 10% 20% 30% 40% 50% 60%


What impacts their business?
Not surprisingly, given their Taiwan market focus,
changes in local demand have the single greatest
impact on their businesses.
However, there are several areas where the
Taiwanese government can have a direct and
substantial influence. These include government
bureaucracy, inconsistent regulatory
interpretation, inadequate or outdated laws, and
company and personal taxation levels. Indeed,
reducing taxation levels may well release more
money into the economy and help stimulate the
area of largest impact – domestic demand.

Which of the following impacts your operation in Taiwan, and how much of an
impact do they have?
Top Ten Responses overall
2012 Ranking 2011 Ranking Issues

1 1 Changes in local demand
2 3 Inconsistent regulatory interpretation

3 4 Ability to recruit appropriate new personnel

4 2 Governmental Bureaucracy
5 7 Currency Exchange rate fluctuations

6 5 Inadequate/Out-dated laws
7 8 China-Taiwan government relations

8 9 Changes in employment expenses

9 6 Corporate Taxation levels
10 10 Lack of transparency


Average values only shown on 4 point scale where 4 = extreme impact and 1 = no impact


Progress (and the lack of it) in Taiwan
Some great strides have been made in the past
three years to help business – especially in
connection with China, like direct flights, better
cross-Strait government relations, and of course
ECFA. There has also been some progress on
important issues such as Corporate Taxation.
But there are also areas where no progress has
been made (e.g., personal taxation), and worse
where there has actually been some perceived
regression (e.g., employment expenses and
domestic protectionism).


‘Significant” & “Some” Progress over 2009-2011 in Taiwan
Direct flights to the Mainland 85.4%
China - Taiwan government relations 83.2%
The Economic Cooperation Framework Agreement (ECFA) 72.1%
Corporate Taxation levels 50.0%
Infrastructure (Power, Water, Telecommunications, Transport, etc.) 45.1%
Corruption 42.9%
USA - Taiwan government relations 42.5%
EU - Taiwan government relations 42.0%
Strengthening Local Demand 41.6%
Intellectual Property rights infringements 41.2%
Governmental reform/restructuring 40.7%
Transparency 38.1%
Strengthening Overseas Demand 34.1%
Customs and trade regulations 34.1%
Currency Exchange rate fluctuations 32.3%
Governmental Bureaucracy 32.3%
Changes in Tariffs 30.5%
Financial Industry Reform 26.1%
Inadequate/Out-dated laws 25.7%
Personal Taxation levels 24.3%
Ability to recruit appropriate new personnel 22.6%
Inconsistent regulatory interpretation 20.8%
Changes in Transport costs 20.4%
Changes in Financing costs 19.9%
Illegal imports 19.5%
Government procurement procedures 19.0%
Changes in Employment expenses 18.1%
Domestic protectionism 17.7%
Changes in Raw Material costs 15.0%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%


“No Progress” made over 2009-2011 in Taiwan
Transparency 39.8%
Corruption 31.4%

0% 10% 20% 30% 40% 50% 60% 70%


“Significant” & “Some” Regress over 2009-2011 in Taiwan
Transparency 13.7%
Corruption 10.2%

0% 5% 10% 15% 20% 25% 30%


Much more needs to be done
The survey asked about the main things the
Taiwan government could do in the next 12
months to help business. The top replies:
– Simplify government bureaucracy
– Increase incentives for foreign direct investment
– Lower personal taxation and further reduce
corporate rates.


What are the top things the Taiwan Government could do to help
your entity in the next 12 months?
Simplify Government Bureaucracy 43.8%
46.7%

Increase Direct Foreign Investment incentives 24.7%
25.2%

Reduce Personal Taxation 21.5% *Alert!...
32.7%

Reduce Corporate Taxation further 20.1%
19.6%

Improve Research & Development incentives 16.9%
16.8%

Liberalize the Labor market 16.4%
15.0%

Broaden ECFA 15.5%
18.7%

Speed-up ECFA 15.1%
18.7% 2012
*Re-engage in TIFA talks with the USA 14.2%
2011
Increase direct flights to/from the Mainland 13.2%
12.1%

Introduce stronger Corporate Governance rules 11.4%

Tighten enforcement of Intellectual Property… 11.0%
9.3%

Sign bilateral trade deals with other (non-USA)… 10.5%
18.7%

Reduce Tariffs 10.0%
9.3%

Improve Training Incentives 8.7%
8.4%

0% 10% 20% 30% 40% 50%

*Alert! Statistically significant change from 2011 Independent Marketing

Notes on “Other” items mentioned (12.8% in total)
These mostly related to topics about: Transparency in both government and private dealings ,
to reduce corruption; and specific laws and regulations, e.g., in the Health care, Energy,
Financial services , Food safety, Environmental safety and Broadcast markets


The major worries confronting
business
Asked about the major risks facing their entity in
the coming years, most responses related to
economic slowdowns, whether globally, in Taiwan,
along with growing concerns about the China and
the U.S.A. markets.
“Europe” was added this year as an option and is
the 5th greatest concern.
Outside of economic slowdowns, Human
Resources remain the largest concern for business
leaders.


What are the major risks facing your entity in the coming years?
Global economic slowdown 73.5%
69.2%
Economic slowdown in domestic consumption 54.3%
63.6%
Economic slowdown in Mainland China 40.6% *Alert!...
28.0%
Economic slowdown in USA 39.7% *Alert!...
27.1%
Economic slowdown in Europe* 35.6%

Lack of Human Resources 35.2%
35.5%
Increased Governmental interference 34.2%
28.0%
Increased domestic political unrest 32.4%
32.7%
TWD depreciation 24.2%
17.8%
Taiwan Inflation rising 21.5%
18.7%
TWD appreciation 17.4%
21.5% 2012
Taiwan Unemployment rising 16.4%
19.6% 2011
Decreased exports 14.6%
10.3%
Increased imports 1.8%
1.9%
Other 3.7%
3.7%
0% 10% 20% 30% 40% 50% 60% 70% 80%

*Alert! Statistically significant change from 2011 Independent Marketing

Human Resources – A big issue
Deficiencies in the quantity and quality of
available human resources are one of the highest
risk factors seen as confronting businesses in the
future.
We asked our corporate leaders to give us their
impressions of the quality of available human
capital in Taiwan. First the positives…


Taiwanese Human Resources are seen
as …
…Hard-working, very trustworthy, extremely well-
educated, highly productive, very loyal, and easy
to develop or train. A very positive profile of the
workforce. Understandably, no major changes
where seen in this year’s survey compared to last.


How would you describe the quality of available Human Capital in Taiwan?
Hardworking
Very Trustworthy
Extremely well-educated
Highly Productive
Very Loyal
Easy to develop/train
Show high degree of emotional…
Show a great deal of initiative
Well-rounded
Easy to recruit
Easy to retain
Show a great deal of creativity
Of 'World class' standard

-60% -40% -20% 0% 20% 40% 60% 80% 100%
Disagree Strongly Disagree Agree Strongly Agree


Human Capital in Taiwan - Net Scores
Hardworking 82.7%
Very Trustworthy 72.3%
Extremely well-educated 65.7%
Highly Productive 44.8%
Very Loyal 45.2%
Easy to develop/train 41.6%
Show high degree of emotional intelligence… 24.1%
Show a great deal of initiative 9.6%
Well-rounded 9.5%
Easy to recruit -5.4%
Easy to retain -10.5%
Show a great deal of creativity -10.9%
Of 'World class' standard -12.3%

-20% 0% 20% 40% 60% 80% 100%

However…
…They are not perceived as being of “World-class”
standard, nor displaying a great deal of creativity.
They are also not easy to recruit and retain. There
are also concerns over their inability to display
initiative. Our respondent leaders were also
somewhat divided over whether they are “well-
rounded” enough and generally display a high
emotional intelligence quotient (EQ).


ECFA…Business leaders are (still)
bullish on ECFA but…
Last year when asked what impact they felt
ECFA would have on their business and on
Taiwan as a whole, the response was
overwhelmingly positive. However, a year on, it
seems that their experience/knowledge of ECFA
has pushed many more into a more neutral
position with regards to their perceived impact
on the country and on their businesses.
In terms of the perceived impact on the U.S.A.,
many seem unsure what, if any, impact it has, or
will have, on the U.S.A.

ECFA’s effect on My Business

Very Positive Effect 8.7%
15.0%

Some Positive Effect 38.4%
42.1%

Neither Positive nor Negative Alert! Statistically significant change from 2011
40.6%
27.1%

Some Negative Effect 2.8%
6.5%

Very Negative Effect 0.9%
1.9%
2012
Don't know/can't say 7.3% 2011
7.5%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%


ECFA’s effect on Taiwan

40.2%

48.6%

Neither Positive nor Negative 11.0% Alert! Statistically significant change from 2011
2.8%

4.7%

1.9%
2012
Don't know/can't say 8.7% 2011
1.9%

0% 10% 20% 30% 40% 50% 60%


ECFA’s effect on the U.S.A.
(NB: New Question in 2012)

2012


Neither Positive nor Negative 31.5%




0% 5% 10% 15% 20% 25% 30% 35%


TIFA…Business leaders want an
updated one.

This year we asked about the lack of an updated
Trade and Investment Framework Agreement
(TIFA), between Taiwan and the U.S.A.
Generally, there was a strong belief that this
disadvantages Taiwan (greatly) and to a slightly
lesser extent, the U.S.A. However, whilst also a
disadvantage to their businesses, it is seen as
more disadvantageous to the two countries.


The lack of a Bilateral Investment
Agreement…

This year we also asked who, if anyone, was
disadvantaged by a lack of a Bilateral
Investment Agreement between the U.S.A. and
Taiwan. Much like the response to the question
on TIFA, Taiwan is perceived as the biggest loser,
followed by the U.S.A. and to a lesser extent
their individual businesses.


The lack of a Bilateral Taxation
Agreement…

This year we also asked who, if anyone, was
disadvantaged by a lack of a Bilateral Taxation
Agreement between the U.S.A. and Taiwan.
Much like the two earlier responses, Taiwan is
perceived as the most disadvantaged, followed
by the U.S.A. and to a lesser extent their
individual businesses.


Still not much happening in M&A
Few businesses pursued any form of merger and
acquisition (M&A) activity during 2010. Of those
that did, a few completed the exercise (4%), a few
more are still in the process (4%), some tried and
failed (less than 4%), and some considered it but
didn’t pursue it (23%). However, for the vast
majority of business leaders (more than 71%),
M&A simply wasn’t on their radar for 2011.


Did your entity pursue, or consider, a merger or acquisition of a Taiwanese
entity in the past 12 months?
80%
71.2%
70%
61.3%
60%

50%

40%
2012
30% 2011
23.4%
20% 17.3%

10% 7.2%
4.0% 4.5% 4.0% 3.5% 3.6%
0%
Yes, and completed Yes, and still in the Yes, but failed to No, but considered No, did not consider
merger/acquisition process of complete
merger/acquisition merger/acquisition


Sound business reasons for M&A
While only a few companies did attempt the M&A
route in the past 12 months, their reasons for
doing so again, as in 2010, show sound business
logic: To enlarge their customer base; increase
local market access; acquire capacity; and
otherwise gain synergies (by reducing costs and
improving profits), were the major drivers behind
M&A, as they were 12 months ago.


But (again) finding an appropriate
target was the single major barrier
…Along with negotiating the valuation gap and
conducting due diligence. Whilst it would be
inappropriate to statistically analyze these results
against last year’s, it is interesting to note a subtle
change in the order of issues, e.g., the rising
importance of ‘post-deal restructuring’ and
‘cultural’ issues which have emerged this year as
barriers to M&A - both ranked much lower as
issues in 2010.

However, still some ongoing M&A
interest for 2012

22% of all entities in our survey would either
“possibly” or “definitely” consider M&A in the
next 12 months.


And finally…”The Living is Easy”
When asked about the quality of life in Taiwan*,
corporate leaders strongly agree that Taiwan is
a place where:
– “My family feels safe.”
– Taiwanese people are extremely nice.
– Taiwan provides quality healthcare services.
– Taiwan is an easy country to live in.
*Whilst we use the term “Taiwan” it should be remembered that most of our
leaders live in the Taipei area and many of their comments will reflect “living in
Taipei”.


The Top Ten Benefits of living in Taiwan (Net Promoter Score)
2012 Ranking 2011 Ranking Benefits

1 1 My family feels safe in Taiwan
2 2 Taiwanese people are extremely nice

3 3 Taiwan provides quality Health/Medical/Dental
services
4 6 Taiwan delivers reliable electricity.
5 4 Taiwan is an easy country to live in

6 5 Alternative transportation options are usable and
provide options to driving my car (i.e., buses, bike
lanes, taxis, trains, sidewalks).
7 7 Taiwan provides adequate shopping opportunities

8 9 Internet connectivity is excellent

9 10 Mobile telephone coverage is excellent
10 8 The Postal service is excellent


Living in Taiwan…The not so great
things.
• Water runoff from storms is not controlled and
results in flooding.
• Taiwan doesn’t provide quality activities for
youths.
• Taiwan doesn’t provide quality drinking water.
• Banking and other financial services are seen as
sub-par.
• Library services provided to their community
are insufficient.


The Bottom Ten Least appreciated aspects of living in Taiwan (Net Promoter Score)
2012 Ranking 2011 Ranking Concerns

1 New in 2012 Taiwan provides an 'English-friendly' environment
for me and my family
2 1 Water runoff from storms is controlled and
minimizes flooding
3 3 Taiwan provides quality drinking water.

4 2 Taiwan provides quality youth activities
5 4 The library services provided to our community are
current and meet our needs
6 4 Banking and other financial services are excellent

7 15 Street surfaces are drivable and safe.

8 7 The sewer system in Taiwan works reliably
9 6 Taiwan provides quality Police services
10 8 The standard of schooling is excellent


About our sample


Who, When and How
• The survey was addressed, via email, to the 387 voting
representatives – usually the CEO – among AmCham’s
Corporate Sustaining and Company membership.
• The survey invitation was sent out on December 6, 2011,
and most responses were received by January 10, 2012.
• The 22-question survey was conducted online with each
respondent receiving a unique link.
• Certain question choices were randomized - to avoid
bias.
• The survey received a total of 232 responses,
representing a 60% response rate.


Industry Classifications
• Our respondents identified their industry
classification based upon the one which best
described their principal business in Taiwan.
• We have reclassified our sample according to the
‘STANDARD INDUSTRIAL CLASSIFICATION SYSTEM OF
THE REPUBLIC OF CHINA（Rev.9 , 2011)’
• Our sample draws from all of the major industrial
classifications in Taiwan.


Industry Classifications (Cont’d.)
• Our sample is more skewed towards ‘Manufacturing’,
‘Professional Scientific and technical services’, and the
‘Finance and Insurances’ industries. And it is under-
weighted in the ‘Wholesale and Retail Trade’ industry –
by virtue of the fact there are some 627,000 of these
businesses registered in Taiwan, representing 52% of all
business numbers. With these covenants, we believe
the sample to be a fairly good representation of
business in Taiwan and an extremely good sample of
AmCham’s corporate membership.


Sample Total Taiwan (source: Statistical Yearbook of The Republic of China 2010, Edited 2011)

Agriculture, forestry, fishing, & animal husbandry 1.3%
1.0%
Mining & quarrying 0.4%
0.1%
Manufacturing 24.7%
10.7%
Electricity, gas supply 1.7%
0.0%
Water supply & remediation services 0.4%
0.6%
Construction 0.9%
7.3%
Wholesale & retail trade 2.1%
51.6%
Transportation & storage 5.2%
2.5%
Accommodation & food services 6.0%
8.9%
Information & communication 5.6%
1.3%
Finance & insurance 11.6%
1.9%
Real estate 2.6%
1.8%
Professional, scientific & technical services 22.0%
2.8%
Support services 2.6%
2.2%
Education 1.7%
0.1%
Arts, entertainment & recreation 2.6%
1.7%
Other services 8.6%
5.6%


Type of legal entity
• Unsurprisingly, the vast majority of businesses in this
sample are wholly foreign-owned through a
combination of subsidiaries, branch offices and
wholly-owned full companies.
• A few of those surveyed also have R&D centers and
some have regional HQ’s and even global HQ’s,
located in Taiwan. Consequently, the results in the
next chart show multiple responses and total more
than 100%.
• The “Other” entities relate mostly to: Law firm
partnerships, NGO’s, and not-for-profit organizations

Time in Taiwan
• Our sample is split between those who are relatively
new to Taiwan (less than 15 years with a physical
presence here) at 33%, those who are established
15-30 years at 39%, and those who are well-
established (more than 30 years) at 29%. The most
frequent length of a physical presence in Taiwan is 21
to 25 years.
• There seems to have been a ‘graduation’ since the
2011 survey, up one level, as last year the 16-20 year
olds were the most frequent respondents.

How long has your business been in Taiwan?
25%
22.0%
21.4%
2012
20% 2011
17.9%

15.9%
15% 14.5%
13.8%
12.5%
11.6%
11.1%
10.3%
10% 9.1% 9.4% 9.1%
8.5%

5.6% 6.0%
5%

0.4% 0.9%
0%
Less 6-10 11-15 16-20 21-25 26-30 31-50 51-75 76-100 More
than 5 years years years years years years* years* years than 100
years years


Number of Full Time Equivalent
Employees (FTEE)
• Our sample covers a wide spectrum of employers -
from the very small to the very large. However, 50%
employ less than 100 FTEE, 29% employ between
100 and 500, and a further 21% employ more than
500.


Business Focus
• The business leaders surveyed are clearly focused on
Taiwan as the primary goal for nearly 74% of the
entities is to supply the Taiwan market with goods or
services. This makes their comments and
observations especially pertinent to the Taiwan
government.


What is your business' primary goal in Taiwan?

Provide goods/service for Taiwanese
0.0% market
1.3% 8.6%
3.4% Provide/source goods/services for the
Greater China market

12.9% Provide/source goods/services for export
to the U.S.A.
73.7%
Provide/source goods/services for export
to markets other than Greater China or
U.S.A
Provide/source goods/services for export
to Mainland China

Other (mostly global services)


Statistical Testing for Significance
• When comparing the results against last year’s survey
we performed a Chi-square test for the comparison of
two proportions (from the two independent samples),
expressed as a percentage. Note that for this Chi-
square test Yates' correction for continuity is applied,
and that P-values are two-sided (or two-tailed). When
the calculated P value is less than 0.05, the conclusion
is that the two proportions are significantly different.
• Throughout the results we have displayed the
difference between the two proportions (at the 95%
confidence level) with an ‘Alert!’ symbol when we
have detected a significant change.


For more details, contact…
• American Chamber of Commerce in Taipei
Suite 706, Worldwide House, 129 MinSheng
East Road, Section 3, Taipei 10596, Taiwan
Tel: +886-2-2718-8226 Fax: +886-2-2718-8182
amcham@amcham.com.tw
Or:
• Gordon Stewart of Independent Marketing
Limited at: gordon@stewartconsult.com

Am chamtaipei 2012 business climate survey january

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