The European Business Awards

Eighty per cent of businesses across Europe forecast growth over the next 12 months

A stark contrast in the mood of Europe’s business community is emerging as four out of five companies predict healthy growth over the next year compared to the ‘doom and gloom’ proffered by many. The European Business Awards, sponsored by HSBC, has today released the findings of their ‘Business As Usual?’ study.

Over 600 of Europe’s top business leaders took part in the study which examined attitudes towards doing business over the next 12 months.

EUROPE IS OPEN FOR BUSINESS AND HUNGRY FOR GROWTH

8 out of 10 business expect to grow in the next 12 months
Over half of businesses expect growth of 10% or more
3 out of 10 expect growth of more than 20%

SUCCESS AND GROWTH LIES BEYOND DOMESTIC BORDERS

The world just got smaller –a third of businesses are looking to take advantage of new markets beyond domestic borders
A fifth are looking at making more of global markets beyond the European Community
1 in 3 are looking to dominate their sector and have ambitions to grow
29% feel it is essential to diversify product offerings and services
Only 6% of European businesses are concentrating on core business

INVESTMENT IN HUMAN CAPITAL IS KEY

58% are investing in their business
24% are investing in training and 39% plan to invest in their existing talent
11% infrastructure / 18% organic growth

Adrian Tripp, CEO of the European Business Awards says, “During the recent recession firms were encouraged to focus solely on their core business, however our research shows that only 6% of European businesses plan on following this mantra in the coming year. Furthermore, investment in staff and recruitment are often among the first casualties of economic turmoil, but a quarter of businesses are expecting to invest more in their staff and over half are expecting to recruit. With four out of five businesses predicting health growth the future for European business looks bright.”

Alan Keir, Global Co-Head of Commercial Banking, HSBC, said: “The European Business community has responded to past uncertainty by grasping opportunities and accepting that investment and growth is the key to success. The hunger for growth and success, coupled with a sense of optimism, means that European businesses will go from strength to strength.”

Rosa Wilkinson, Marketing Managing Director UKTI, added: “International trade is key to our economic health and future growth. Successful businesses are those that constantly reach out to new customers and new markets. Those companies will generate new ideas, new jobs, and new wealth. I am hugely encouraged by the energy I see in businesses looking to internationalise. Their energy is driving the outstanding performance that will underpin our recovery.”

To see the press release and case studies pleae click here

The European Business Awards has enjoyed a successful partnership with RSM International since the outset of the programme.

RSM International comprises a worldwide network of professional services firms providing tax, audit, consulting, and specialist advisory services to ambitious growing organisations around the globe.

The group prides itself on the unusually close and enduring relationships it forges with its clients. Clients who choose RSM International are those who look for a combination of real value, true team work, imaginative practical solutions, and excellent service.

“As one of the world’s largest auditing and consulting networks, we are committed to quality and excellence in business. This is reflected by our support of the European Business Awards for the third consecutive year and our sponsorship of the Entrepreneur of the Year Award. We wholeheartedly encourage successful and active European businesses to participate in these awards in order for their achievements and contributions to be appropriately recognised through these awards by businesses and business leaders throughout Europe.”
Jean Stephens, CEO, RSM International

Facts & Figures about RSM International…

RSM International is the seventh largest network of accounting and consulting firms in the world
66 member and correspondent firms in 64 countries
662 offices worldwide
Over 25,000 staff including 2500 partners
Combined fee income of US$3.06 billion

Q&A with Jean Stephens, CEO, RSM Internationl

Why does RSM International sponsor the European Business Awards?
As one of the world’s largest accounting and consulting networks, we are committed to quality and excellence in business – values which are reflected by the European Business Awards. Europe is an important region in the global economy and we continue to grow and strengthen our network to meet the needs of our clients with business interests there. In the past year alone we have appointed new member firms in Italy, Spain, Ukraine and Germany, and formed a development group in Central and Eastern Europe, indicating our commitment to European business.

What is your opinion of the European Business Awards?
We take sponsorship commitments very seriously, and this is the third consecutive year we have sponsored the EBA. We believe in the importance of recognising and commending international business endeavour. The European Business Awards is a prestigious body rewarding high quality companies of all sizes, from all sectors, across Europe.

How important is recognizing and rewarding European business success?
Very important. Quality and success need to be encouraged and rewarded, especially if we are to sustain a vibrant and robust European economy.

What do you see as the key challenges confronting European businesses at the moment?
Although a strong CEO can and should plan for economic cycles, three years ago I doubt any European CEO would have planned for a global economic slowdown triggered by crises in the international credit markets, matched with high inflation due to a surge in the price of oil and food. The biggest challenge for European businesses is to maintain their strategic direction in the face of uncertainty. Market changes might mean challenges have changed and businesses need to realign their priorities and short-term direction.

What do you think will be the future concerns of businesses in Europe?
Emerging economies could be seen as posing a competitive threat to European business, but it is important to recognise that economies like those in the BRIC region can offer growth opportunities to European companies. Of course, business risks can be high there and there is no common approach – businesses must carefully assess the political, cultural and economic features of those countries.

What drives you as head of a multinational organisation?
Success of the global network is the ultimate driving force, and we have been growing and strengthening consistently for some time. Whilst I can help strengthen the network from the centre, RSMi’s people are its most important asset, and the hard work, determination and quality of the member firms ensure our continued success.

What advice would you give to an Award entrant?
Work hard, focus on quality and be the best you can be in your field. A successful award entrant will need to have mastered these skills and be able to clearly show how these will benefit and advance the business community.

Do European businesses set the benchmark for emerging regions?
Europe’s economy has thrived for many years, so in that respect, of course there has been a benchmark set for emerging regions. But these regions operate differently – different cultures, different political systems, different business challenges. Yes, emerging economies will learn from Europe’s precedent, but likewise European companies will need to adjust and learn from them if they are to pursue global growth opportunities.

To find out more about RSM International visit www.rsmi.com