Global perspectives for Belgian private companies
Plans, priorities, and expectations
Findings from the first Deloitte Private global survey
Optimism, opportunity and a few wake up calls
As global uncertainty continues to grow, private businesses throughout the world are showing remarkable optimism about their future. In its inaugural report, Global perspectives for private companies: Plans, priorities, and expectations, Deloitte reveals that two-thirds of private company executives across the globe believe their revenue will rise in the year ahead.
Surveying almost 1,900 executives in 30 countries, including Belgium, the report provides a window into the mindset of business leaders across Belgium and around the world: where they see opportunity, what they prioritise, what keeps them up at night.
Mood of confidence and optimism
Ninety-six percent of Belgian executives are conﬁdent about the success of their company over the coming 24 months, even though 54 percent believe that the level of uncertainty around their future business prospects is higher than this time last year.
Among the most striking, and most urgent findings: only 55 percent think that nontraditional competitors will disrupt their market in the next two to three years. Belgian executives need to be careful or they could be in danger of being left behind.
Technology advances are seen as creating opportunities and positive outcomes by 66 percent of Belgian respondents. To achieve the benefits of technology investments, Belgian private companies must focus on technology governance. It is also important to engage customers in product development and improve coordination between technology and business.
Investing in growth
Only twenty-one percent of Belgian private company leaders say their company completed a merger or acquisition in the past 12 months, but with 30 percent listing merger and acquisition (M&A) activity as an opportunity to enter new global markets in the coming year, M&A activity is expected to increase.
To overcome some of the challenges private companies face when it comes to finding and attracting the right talent, 40 percent of Belgian respondents plan to invest in training their employees and 32 percent are investing in leadership development programmes.
The advantage of being a private business is the ability to respond quickly to opportunities. The optimism evident among private businesses suggests that many will be able to grasp and benefit from the arising opportunities.