European businesses positive about 2014 but admit growth challenges

European businesses are positive about the outlook for 2014, with over three quarters of them (76%) expecting to increase their full-time employee headcount, according to a survey of 200 business owners across Europe conducted on behalf of RSM International, the seventh largest global network of independent audit, tax and advisory firms.

 

However, over half (55%) of European businesses reported that accessing the right talent is the biggest challenge to their domestic growth. Equally, when considering overseas expansion, two thirds of respondents felt that hiring the right local people was the greatest obstacle, alongside understanding country-specific regulations.

 

Jean Stephens, CEO of RSM International, comments: “The intention to increase full-time headcount is a very encouraging sign; it is evidence of a more sustained confidence in the general economic outlook. The war for talent is back, which means that companies need to be more creative about making themselves attractive to employees, and should have a more open approach to flexible working patterns.”

 

The survey indicated that nearly four out of ten businesses in Europe (39%) plan to make greater use of IT to facilitate flexible working. However, it also showed complacency about IT security risks, with only 10% of respondents considering cyber security to be a key concern, despite it being hailed by many commentators as the biggest threat to both business and government today.

 

The survey was conducted for RSM by the European Business Awards of which RSM International is the lead sponsor. www.businessawardseurope.com.

 

ENDS

 

Note to Editors For further information, please contact:

 

Gill Hawkes Rose Schreiber

RSM International Cubitt Consulting gillian.hawkes@rsmi.com rose.schreiber@cubitt.com

Phone: +44 (0)20 7601 1092 +44 (0)20 7759 1194

 

About RSM International

 

RSM International is the seventh largest network of independent audit, tax and advisory firms, encompassing over 100 countries, 700 offices and 32,500 people internationally. The network’s total fee income is US$4 billion.

 

In March 2013, RSM International was awarded the prestigious Editor’s Special Award for Global Initiative of the Year at the International Accounting Bulletin annual awards. The award recognises the outstanding achievement of the RSM network for its global initiative - RSM World Day – which was praised for being a unique and powerful cross-network initiative that enhanced both employee and client engagement. The judges highlighted the campaign as a shining example of how to successfully connect independent member firms around the world under a common vision and set of values.

 

RSM International actively engages in promoting and celebrating the very best in entrepreneurship, championing the role of the entrepreneur in today’s world economy. RSM is the lead sponsor and corporate champion of the European Business Awards promoting commercial excellence and recognition of entrepreneurial brilliance.

 

RSM International is a member of the Forum of Firms. The objective of the Forum of Firms is to promote consistent and high quality standards of financial and auditing practices worldwide

 

RSM International is the brand used by a network of independent accounting and advisory firms each of which practices in its own right. RSM International Limited does not itself provide any accounting and advisory services. Member firms are driven by a common vision of providing high quality professional services, both in their domestic markets and in serving the international professional service needs of their client base.

www.rsmi.com