AI, diversifying talents and new regulations – driving engines for middle-market companies in the coming 12 months, EY survey says
The middle-market companies worldwide are much more optimistic in regard to the conditions and opportunities of the business environment than last year, the annual EY Growth Barometer concludes, a company release informs.
87% of middle-market companies plan a revenues growth of over 6%, above the GDP projections; cognitive technologies and the hiring of talents represent the main priorities of the company executives worldwide; innovation is boosted by stricter regulations.
The growth outlook is improving in 2018 for all important economies, the IMF is forecasting a 3.9% GDP growth this year. In this positive context, company leaders are optimistic in regard to revenues growth.
The survey was conducted on 2,766 middle-market company executives in 21 countries and nine key sectors – the confidence in business development has strengthened in the past 12 months. 60% of the companies aim growth of 6-10%, as compared to 34% who said they were aiming similar targets last year. 27% target growth of over 10%, a small drop against 2017, when 30% of the companies were included in this category. None of the respondents in 2018 expect a slowdown in growth, against 5% in 2017.
The company managers are concerned about the cash flow deficits, about the restricted crediting and slowdown of global growth, major risks over long term.
“As we’ve got used in the past years, the Romanian economy is developing on a similar pattern with the world economy, fighting to attract talents and digitalization as main disruptive forces of this growth. Now, more than ever, we see technology and talent diversity are reciprocally influenced and together they lead, sometimes dramatically, to the emergence of new sectors and accelerated growths,” Horatiu Pirvulescu, EY Romania Growth Market Leader said.