Australian CFOs optimistic on global growth
More than 95 per cent of Australian mid-sized companies are confident in their global expansion plans, with key executives expecting more than half of their revenue to come from abroad in three years, a survey has found.
The BDO Global Ambition Survey, which interviewed 750 chief financial officers (CFOs) from Australia and 13 other countries, found Aussie CFOs feeling very optimistic about cross-border growth of their companies, with China being seen as offering the best opportunity.
This comes despite many feeling that conducting business globally is slightly more difficult now than three years ago.
Another interesting finding is that most CFOs find it significantly more challenging to find the right people with the right skills than finding the money to expand abroad.
Optimism of Aussie CFOs is matched by overall positive outlook of global chief financial officers, but BDO Australia's national chairman Tony Schiffmann said Aussies are among the most optimistic about international growth.
"I believe this optimism is partly due to Australia's enviable location as a springboard into the Pacific, South Asia and Asia, as well as our well-educated and skilled workforce and the strength of the broader economy," Schiffmann said.
Global CFOs, however, find it rather difficult to expand in Australia, mostly due to in-market competition.
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