Privately Held Business: The Lifeblood Of The Global Economy
Aug. 19, 2009
In August 2009 Grant Thornton published its International Business Report - 2009 Global Overview: Privately Held Business: The Lifeblood of the Global Economy.
This year’s results reflect the present global turbulence, with many results tipping into negative territory for the first time in the survey's 17-year history. There are, however, a number of positive points to suggest that while the downturn is widespread, there are many opportunities for businesses to grow and build as the economic climate improves.
GT's IBR 2009 global overview provides a complete summary of this year's results focusing on each of the main research topics examined:
- the global economy
- raising finance
- business planning
- the workforce
- the environment
- mergers and acquisitions
Any recovery in the global economy, the report notes, will need privately held businesses to be at the forefront to drive new business, employment and trade. To achieve this (among others):
1. Businesses need to ensure their operations are as efficient as possible;
2. They need to adjust to the new level of demand while working on innovative ways to develop product and market share; and
3. Their access to credit needs to improve to help working capital and long-term funding needs.