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The financial platform for business Stripe has published its analytical report for 2023, which shows that companies are still investing in their own growth, despite the negative economic climate.
The report is based on a survey of 2,500 business leaders in nine countries and highlights that businesses are more confident in their own growth than in the health of the economy as a whole.
— 80% of respondents, regardless of business models, location and size of the company, expressed pessimism about the state of the economy, calling inflation their main problem;
— 72% of respondents reported that operating expenses were higher than in the previous year;
— 65% of respondents expressed confidence in the growth of their business in 2023;
— 61% of respondents use the current recession to experiment with new ways to increase their income through e-commerce.
As we can see, companies prioritize their own development, not cost reduction. It is known that during past recessions, companies that made such bold bets succeeded.
Companies like General Electric and Amazon have launched new products during previous crises. Moreover, the results of Bain research & Company, McKinsey & Company and Harvard Business Review show that this "invest in yourself" formula can be replicated.
By Terra TEAM