*Eighty percent of businesses across Europe forecast growth over the next 12 months*
A stark contrast in the mood of Europe''s business community is emerging as four-out-of-five companies predict healthy growth over the next year compared to the ''doom and gloom'' proffered by many. The European Business Awards, sponsored by HSBC, has today released the findings of their ''Business As Usual?'' study.
Over 600 of Europe''s top business leaders took part in the study which examined attitudes towards doing business over the next 12 months.
EUROPE IS OPEN FOR BUSINESS AND HUNGRY FOR GROWTH
- 8 out of 10 business expect to grow in the next 12 months
- Over half of businesses expect growth of 10% or more
- 3 out of 10 expect growth of more than 20%
SUCCESS AND GROWTH LIES BEYOND DOMESTIC BORDERS
- The world just got smaller -a third of businesses are looking to take advantage of new markets beyond domestic borders
- A fifth are looking at making more of global markets beyond the European Community
- 1 in 3 are looking to dominate their sector and have ambitions to grow
- 29% feel it is essential to diversify product offerings and services
- Only 6% of European businesses are concentrating on core business
INVESTMENT IN HUMAN CAPITAL IS KEY
- 58% are investing in their business
- 24% are investing in training and 39% plan to invest in their existing talent
- 11% infrastructure / 18% organic growth
Adrian Tripp, CEO of the European Business Awards says, "During the recent recession firms were encouraged to focus solely on their core business, however our research shows that only 6% of European businesses plan on following this mantra in the coming year. Furthermore, investment in staff and recruitment are often among the first casualties of economic turmoil, but a quarter of businesses are expecting to invest more in their staff and over half are expecting to recruit. With four-out-of-five businesses predicting health growth the future for European business looks bright."
Alan Keir, Global Co-Head of Commercial Banking, HSBC, said: "The European Business community has responded to past uncertainty by grasping opportunities and accepting that investment and growth is the key to success. The hunger for growth and success, coupled with a sense of optimism, means that European businesses will go from strength-to-strength."
Contacts:
Angela Lovell
+44-(0)207-234-3552
angela.lovell@businessawardseurope.com