A new survey has revealed that Australian CEOs are gloomy about 2016 and fearing corporate insolvency as the world economy is set back by $200 trillion in debt that will not get paid back.
According to ASX chief executive, Elmer Funke Kupper, these lost trillions of dollars will destroy emerging market economies and global growth altogether.
The PwC 19th Annual Global CEO Survey revealed that Australian CEOs in particular were uncertain about the world economy growth. They were also concerned about corporate insolvency and not confident in their own company’s ability to generate significant revenue in 2016.
The survey is based on interviews with over 1,400 CEOs of large companies from around the world. The CEOs came from over 83 countries, with more than half of the CEOs from Australia (49). Only one third of the CEOs from Australia reported feeling “very confident” that their company would experience revenue growth in the upcoming year. This figure was down from 43% last year.
The PwC survey found that 78% of all the CEOs surveyed perceived more threats to their company today than they did in 2012. Their greatest concerns regarding corporate insolvency were:
- Cyber threats (82%)
- Changes in technology (73%)
- Key skills availability (65%)
If you are concerned about your company’s current and future financial situation, contact the corporate insolvency experts at Insolvency Services Australia today. Our team of experienced and licensed corporate insolvency advisors will provide your company with the financial advice and solutions that it needs. To get in contact with one of our friendly team members today and learn more about our services, call 1800 003 883.