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Businesses in Australia ‘most confident’ about growth

Adrian M. Reodique | May 18, 2016
Compass Index also indicated that businesses must be agile and innovative in their way of work to sustain growth.

Businesses in the Asia Pacific (APAC) region are mainly optimistic about growth, with Australians being the most confident, according to the Compass Index which polled 4,000 respondents from Compass Office's global clients.

The survey revealed that 51 percent of respondents in Australia felt strongly confident about their business growth this year, which is the highest when compared to Singapore (43 percent) and Hong Kong (30 percent). Japan showed the lowest confidence in the region at 15 percent.

However, the Compass Index also indicated that businesses must be agile and innovative in their way of work to sustain growth.

"Our Index shows that businesses are optimistic about their growth this year. However, to stay on top of their game, they will need to reconsider where their investment is and reinvent new ways of working, to be more adaptable to economic conditions," said Andrew Chung, CEO of Compass Offices.

The Index indicated that employment growth rate is slated to slow this year in the region. In Japan, for instance, less than 20 percent of the clients plan to hire this year.

However, the polled respondents in Singapore (61 percent), Australia (56 percent), and Hong Kong (44 percent) plan to board more personnel this year. It was found out that sales, marketing and IT skills are the most in-demand to support their business growth. 

 

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