INSIGHTS
2019 - 2024
3000+ Decision makers
1 -51+ Full-time equivalent
TREND #1
After years of economic challenges, is business optimism finally on the rise?
Trend Breakdown
34% of businesses are feeling more optimistic than last year.
- Up from 32% in 2023.
Thriving and starting businesses are more likely to be optimistic (61% and 59%, respectively). A further increase on 2023 results.
The core drivers of optimism are a result of growth in business:
- 55% say business is growing, a significant increase on 22% in 2023.
- 40% say they have more customers/demand, a significant increase from 21% in 2023.
TREND #2
Have we entered a 'hybrid hangover'?
Trend Breakdown
While more than half of businesses have a fully/mostly in person working model, over one-third have adopted a hybrid model:
- 28% of businesses say that hybrid working makes their business less productive than being fully in person.
- Up from 17% in 2023.
- 51% of businesses say that hybrid working makes their business more productive. This is consistent with results from 2023.
TREND #3
Effective use of technology continues to correlate to overall business performance.
Trend Breakdown
Effective use of technology aligns directly with the performance of a business:
- 68% of thriving businesses say digital technology improves their productivity.
- 67% of starting businesses say digital technology improves their productivity.
- 54% of reviving businesses say digital technology improves their productivity.
- 50% of surviving businesses say digital technology improves their productivity.
Senior leadership and technology:
- 23% of business leaders say they don’t possess the digital skills to help their business get ahead.
Businesses who are struggling should take a look at their digital tools and examine if they are providing enough value to get ahead in 2024.
