Majority of business leaders still appear bullish, study reveals
Despite the impact of the global pandemic, a new study by Intertrust reveals that three out of five business leaders worldwide, or 61 per cent, predict growth over the next twelve months.
Amsterdam-based Intertrust, a tech-enabled fund and corporate solutions provider, surveyed 102 business professionals across Europe, the Americas and Asia to identify the impact of Covid-19 on business resilience globally.
The research shows that despite Covid-19 and the climate of geopolitical uncertainty, the findings underlines a strong sentiment of business resilience, with the majority of firms remaining optimistic that they will ride out the economic volatility and continue to grow.
“Despite the impact of the global pandemic, the study reveals a strong sense of business resilience, with successful firms remaining determined to seek opportunities for growth,” said Evert Wind, global head of corporate client services at Intertrust.
“While global economic uncertainty still lingers, the crisis has created opportunities for businesses looking to expand into new markets," added Wind.
The study found North American firms to be more bullish about growth prospects (73 per cent), followed by businesses in Asia (67 per cent) and EMEA (63 per cent).
The survey also highlighted a stark difference in perception depending on the firms’ position in the corporate lifecycle, with 80 percent of firms looking to scale up through expansion into new markets predicting growth, compared to just half, or 49 percent, of start-ups.
The study from Intertrust also gauged business leaders’ appetite for overseas expansion. Over one in three businesses (35 per cent) said Covid-19 has made them even more determined to expand into new markets, a fifth of which (19 percent) said they are much more likely to do so.
Businesses in Asia said they were over twice as likely to expand into new markets (56 percent) as firms would be in Europe.