Eighty percent of businesses across Europe forecast growth over the next 12 months

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Eighty percent of businesses across Europe forecast growth over the next 12 months

3 Sep 2010

The European Business Awards, sponsored by HSBC, have today released the findings of their ‘Business As Usual’ Study*. Critical software joined hundreds of Europe’s top business leaders in a study which examined attitudes towards doing business over the next 12 months. Despite the doom and gloom proffered by many, the findings reveal that European businesses are extremely buoyant about the future and many predict growth beyond national averages.

New found optimism and aggressive business planning has led to over half of all companies questioned predicting minimum growth of 10% by the end of 2011.

Key findings from the survey are:

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% will invest in infrastructure

Rui Melo Biscaia, Critical Software’s Head of Marcom stated: “Being part of the European Business Awards and this recent study has been an illuminating experience, because we’re able to benchmark our success against some of the best businesses in the European community. This study echoes Critical Software optimism for the future and our drive for growth over the next 12 months, we’re confident that commercial success will follow our hard work and commitment to our sector.”

Celebrating its fourth successful year, the European Business Awards highlight and promote examples of individuals and organisations that achieve outstanding results across a variety of disciplines – from environmental concern to customer focus – results that set them apart as leaders in Europe. This year has been the most successful yet and the Awards have engaged with over 15,000 companies from across Europe.