Business leaders optimistic despite working capital challenges

Survey of 4 countries finds mixed views on hiring for 2024

Business leaders optimistic despite working capital challenges

Business leaders worldwide are expressing optimism for revenue growth in 2024, despite grappling with working capital challenges, according to a survey conducted by C2FO, a working capital platform.

The survey, which polled over 1,000 financial decision-makers and executives in the U.S., U.K., Mexico, and India, found that 78% of companies anticipate revenue growth this year, with 32% expecting growth exceeding 10%.

However, nearly a quarter of businesses surveyed cited insufficient access to capital to sustain operations for a year.

“Many businesses are seeing conditions improve, but the post-pandemic pains still remain,” said Chief Sales Officer Colin Sharp, who highlighted supply chain disruptions and labor shortages as persistent challenges, underlining the importance of managing cash flows effectively in an uncertain economy.

One notable challenge identified by respondents was the impact of high interest rates on funding access, with 54% naming it as a significant obstacle in 2023.

Looking ahead to 2024, 42% anticipate negative effects from higher interest rates on their growth prospects.

Hiring expectations for 2024

The survey also revealed that 43% of companies plan to increase headcount while just 3% predict a more-than-10% headcount reduction.

The U.S. is most optimistic, with 35% planning to hire 1 to 10%, followed by India at 34%, Mexico at 33% and the U.K. at 26%

Just under four in 10 (39%) plan to keep the headcount the same in 2024, found the C2FO survey, while 20% plan to reduce headcount.

Recent articles & video

Court disqualifies 'negligent' director from holding executive post

Hong Kong's unemployment rate stays at 3%

Generative AI reduces employee burnout in Hong Kong: survey

Target expands rollout of gen AI-powered chatbot at 2,000 stores

Most Read Articles

Employers told to strengthen support for LGBTQ+ business travellers

Japan to allow foreign workers to change employers with new law: reports

3 in 5 Singapore workers using generative AI