UK CEOs: Some of the Most Confident Bosses in the World

According to a research conducted by PricewaterhouseCoopers (PwC), CEOs in UK are confident regarding financial prospect of their companies. The study revealed that about 93 percent of business owners are confident compared to 68 percent last year, 2013. About 2 out of 3 chief executives said they they plan to hire more staff this 2014. The report shows that only CEOs in Middle East, Korea and Taiwan also plan to recruit on the same year.

Bosses in UK have been optimistic towards the competitive environment. However, the disadvantage is these entrepreneurs have to develop new strategies to survive in the business world. About 3 out of 4 of UK CEOs aim to decrease cost reductions in 2014, according to PwC.

On the other hand, only five percent of these entrepreneurs are considering the export market in order to expand, which is way behind the 14 percent of CEOs who aim to export across the world. Experts say that British enterprises must see the potential of this market for growth. Like in China, the country’s bosses need to find balance in imports and exports, build relationships and face challenges as they come.

About 82 percent of British entrepreneurs say advancement in technology is a huge contributing factor for the development of their enterprises. Economy and changing demands of customers can also make alterations that CEOs must embrace for the growth of business.

As a business owner, focus is vital. Once he concentrates how to expand his company and how to reach the goals, then he has a clear view what must be done and what areas to improve in his company.