Jersey could benefit from ‘optimistic’ UK CEOs

Tuesday 28 January 2014

A PWC survey suggests UK CEOs are among the most confident about future business in the world – and the firm believes that’s good news for Jersey.

The study showed that nine out of 10 (93%) UK CEOs are confident about their own company’s revenue prospects, over the coming 12 months, up from 78% in 2013. It also suggested that UK business leaders are significantly more confident than the average global CEO and also than the vast majority of their European counterparts.

Karl Hairon, Partner at PwC CI, said: "Although the survey results are based on responses from Global CEOs, our experience is that many of the messages from the survey are relevant to CI business leaders who face similar challenges and have similar opportunities to international firms. The results of the survey are essential reading for all senior staff concerned with strategic direction , profitability, performance and day to day financial management."

Other findings included:

• UK CEOs are more confident about the outlook for growth in the global economy than their peers almost anywhere else, with 61% thinking it will improve in the year ahead, up from just one in 10 (11%) last year.
• Rising confidence is reflected by a strengthening outlook for jobs. Some two thirds of UK CEOs (65%) plan to increase headcount in their business this year, up from 45% in 2013, and considerably higher than the global average of 50%. Only business leaders in Taiwan, Korea and the Middle East are more likely to recruit.

Karl Hairon added: “The digital era gives businesses a unique opportunity to reinvent the way they go to market. CEOs need a business fit for the digital age, not just a digital strategy. We’re entering a phase of significant transformation that will continue for several years.”