2010-06-29
Now, we are able to experience a better situation and also slightly more optimism in the industry compared to 2009. Many companies appear to have fared well through the recession. Our international survey, the Grant Thornton report, shows that companies are more optimistic about the future and that they are more likely to recruit. These signals make us believe that 2010 will be a better year than 2009. However, at the same time we need to be humble.
Many governments gradually withdraw their incentive packages and it is difficult to predict how it will affect the market. In addition, several countries such as Greece still have economic problems that may cause resulting effects in other countries.
In the Grant Thornton report, we can see that Swedish companies are counting on increased sales and improved profitability units in 2010 compared to 2009. However, it is less compared with both the EU average and the global average, which are planning investments or increased spending in research and development. In short, one can say that the market is optimistic, but cautious.
The Grant Thornton report gives us very interesting and valuable information that makes us even better at providing advice to entrepreneurs. The knowledge we obtain about the owner-managed companies, in Sweden and in 35 other countries, present a variety of issues that are important both for our customers and the industry.
An economic upswing require as much preparation and action as a recession. I think that it is now important to begin to prepare the business for the future to ensure its success. It is about time for companies to strengthen their management resources by ensuring that they have the right leadership on the important key features.
An example would be to consider whether the board is composed in the most effective way in order to interpret the important external factors and translate them into successful strategies to meet the challenges ahead. A successful board depends on careful preparation and a proper selection of members. The board shall be composed in relation to the company's needs and conditions in the upcoming years.