Great to see global business confidence increasing - despite some fairly major macro level challenges. Skills gap still coming through as a major challenge though - culture and purpose arguably never more important - especially to professional service firms.
New figures from Grant Thornton’s International Business Report (IBR), a long-running global survey of 2,500 businesses in 36 economies, reveal that while business optimism is rising to new quarterly highs, a storm may be brewing in the shape of a skilled worker shortage. The survey also finds increases in revenue and profitability expectations. However, growing fears over workforce skills could impact confidence. The findings show that global business optimism hit at an all time quarterly high of +51%1 in the second quarter of this year. This represents five consecutive quarters of increases in global optimism. Healthy confidence is evident in the US, where optimism has hit an all-time high of 81%; in the EU, which has jumped to a two year high (50%); and in China, where optimism remains at 48% - a near three year high.