PwC yesterday released their 20th annual survey of CEOs worldwide. The survey gets the views of 1379 CEOs from 79 countries.
The findings released yesterday at the World Economic Forum in Davos show that while business leaders are more positive in their outlook, their levels of concern about economic uncertainty (82%), over-regulation (80%) and availability of key skills (77%) remain very high.
In Ireland, the most recent business leaders’ survey carried out in November 2016 indicates that Irish businesses are more cautious than a year ago, but are still positive about growth opportunities while tackling the business disrupters.
Over half (56%) of Irish business leaders are confident about future growth prospects, but a third (32%) are apprehensive. Three-quarters (74%) expect revenue growth in the year ahead, down from 88% a year ago; 52% expect to grow headcount, down from 66% a year ago.
Nearly three-quarters (72%) are of the view that Brexit will impact the Irish economy negatively when the dust settles but 17% are positive. The survey indicates that the top priority for businesses in 2017 will be to continue their growth strategy at a time of unprecedented change. Twenty three per cent scored dealing with disrupters such as digital and the changing tax landscape to be key areas of focus.
The top priority for Government, according to the survey, should be to deal with Ireland’s housing and public infrastructure issues. Nearly half (43%) said that the key focus for Government should be to ensure that Ireland continues to improve its competitiveness with a clear plan for attracting new FDI post Brexit.
Commenting on the research, Advisory Leader at PwC Ireland, Ciarán Kelly said, "Irish CEOs are looking to manage their businesses in an increasingly volatile external environment and clearly the performance of our trading partners is important. Contrary to global CEOs, based on our Irish surveys and what clients are telling us, Irish business leaders are more cautious about the outlook for the year ahead compared to this time last year."
He added, "However, they remain positive about growth opportunities while tackling the business disrupters. Brexit looms large and, along with a new landscape leader in the US, a changing tax agenda and other geo-political uncertainties, will no doubt influence a period of change."
Source: www.businessworld.ie
