Despite entering another year already defined by economic uncertainty, supply chain disruption and geopolitical tensions, Taulia’s global Supplier Sentiment Survey found that businesses are largely optimistic about the year ahead.
“At a time when organizations are balancing inflationary pressures while driving growth, access to working capital solutions is more important than ever. By providing them with much needed liquidity, these solutions also support them in running their operations smoothly by alleviating the pressures on those within their supply chain.”
The survey finds that more than eight in 10 (85%) businesses globally are feeling optimistic about the year ahead; a significant increase from 2022 when 60% felt this way. This year marks a decade since Taulia, a leading provider of working capital management solutions, launched its Supplier Sentiment Survey. This edition collected the views and insights from 11,300 businesses across its global network in over 130 countries.
In the United States, 87% of respondents expressed optimism about the upcoming year. This is closely trailed by Canadian businesses, of which 85% feel positive about 2024, the United Kingdom (84%), France (67%), and Germany (65%).
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Across the retail and electronics sectors, 86% of businesses feel optimistic looking ahead to 2024. This is closely followed by Manufacturing (85%), Chemicals (84%) and Transportation (81%).
However, the findings also indicate that organizations are navigating a delicate balancing act of mitigating the impact of inflation while actively pursuing growth. Looking at the year ahead, inflation is cited as the key area of focus for businesses (50%), closely followed by growth (48%). Other issues top of mind include:
– Interest rates – 32%
– Supply chain disruption – 22%
– Geopolitical issues – 20%
Bob Glotfelty, Chief Growth Officer, Taulia, commented: “As we brace ourselves for another year of economic uncertainty and high-interest rates, it’s encouraging to see such confidence among global businesses as they prepare for the months ahead.
“At a time when organizations are balancing inflationary pressures while driving growth, access to working capital solutions is more important than ever. By providing them with much needed liquidity, these solutions also support them in running their operations smoothly by alleviating the pressures on those within their supply chain.”
About the Taulia Supplier Survey Sentiment Survey
Taulia’s annual Supplier Sentiment Survey received 11,900 responses from suppliers across the globe, ranging from SMEs to large corporations with revenues of over USD$5 billion. The first survey was in 2014.