New Global Survey Says Business Owners Are Confident About Surviving The Economic Downturn

The current economic situation around the globe isn’t too great but a new survey conducted by GoTo is proving how optimistic business owners are in this regard.

The survey comprised nearly 3,700 owners of small or large-scale enterprises and respective executives too. This is when it was shown that these individuals had a lot of confidence in terms of making it out, safe and sound, despite the current crisis.

As we all are well aware, brands are being struck heavily with losses as inflation peaks to a new high. This coupled with issues in the supply chain isn’t making matters any better. But in the US, around 70% of business owners aren’t breaking a sweat.

They feel confident that this situation is temporary and won’t last long. And they’re confident that they’ll survive it.

In the same way, a huge percentage of different countries were surveyed in this matter. And most of them had positive responses as there was a lot of economic resilience provided for their enterprises. Countries included the likes of India, Malaysia, Singapore, and Australia.

But it’s surprising to see how the story was completely different in terms of the European continent. Countries like Germany and France had business owners feeling the pressure and figures were just 65% confident while those in the UK were even less. This is where figures stood at 43%. When you compare that with the likes of the Asian continent, the difference is great as figures ranged between 95% to 75%.

The study was recently carried out by OnePoll. They claim that overall, from a global perspective, people who responded were 70% confident that recession would ensue in the next few months.

But right now in the US, around 70% of individuals are prepared for huge headwinds in the economic world at a given point in time. A lot of people are nervous to see what’s next in terms of the current state of the business. Moreover, around 36% claim to be prepared with their own plans on how to combat the economic downturn. And more than 30% of respondents have even begun implementation of their plans to avoid the crisis ahead.

America has a lot of people getting their businesses ready for economic resilience. They’re open to gaining a better understanding of what is economic relief and how to obtain it. It’s like averting a disaster by being well-prepared and we think that’s awfully smart to plan ahead.

A lot of finance-related analysts feel the time has come to have businesses clear their minds about what lies ahead and how they can make the most of their position in the world through this means. From providing more support to their workforce to protecting their assets, and thinking outside the box for better ways to generate revenue, there’s a lot to be done in this regard.

Internationally, so many firms have come head to head with economic downturns from the past. And that’s how so many leading business owners say they’ve gained experience on how to avert such disasters or reduce their mega effects.

In terms of what advice they would give to others about the situation, well, be prepared is what they claim, other than staying calm and being optimistic about entering such a period of uncertainty. Additionally, they hope adding great strategies and goals would help provide better optimism in this regard.

The role of employees is also crucial during such periods. They can really assist in maintaining the stability required to keep the business functioning so providing them with greater protection was also advised. Be it more incentives or keeping their morale high- there are several ways to get it done. And the benefits of doing so are worthwhile.
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