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Difficult Conditions Fail to Stop Innovation Leaders’ Growth Ambitions, Inaugural J.P. Morgan Survey Finds

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J.P. Morgan has published a new dimension of its annual Business Leaders Outlook survey, capturing insights from startup leaders in key innovation hubs around the world.

The report, which surveyed nearly 250 C-suite executives at startups across the UK, France, Germany, Australia and India, found that many execs from VC-backed companies in the UK, France, Germany, Australia and India, are feeling optimistic about the global (70%) and national (63%) economy in the year ahead – especially when compared to their US counterparts, where only 15% reported positive sentiment about the global economy in the year ahead.

While more than half expect a recession in 2024 and 78% reported rising business costs from inflation, they’re still preparing for growth – specifically through increased revenue (89%), adding to their headcount (58%) and increasing their credit needs (74%).

Even as tech valuations have softened, more than half of these innovation economy leaders reported that growth projections, new product and innovation development and hiring/talent management have had a positive impact on their company. 

While a quarter (27%) of respondents cited the adoption of artificial intelligence (AI) as a top challenge, almost all (94%) of these leaders are welcoming the new technology with open arms, stating they are already using or plan to use AI in the year ahead.

The most common areas of application are rooted:

·          Business operations (64%)

·          Product development (60%)

·          Human resources/training (50% 

·          Internal/external communications (49%).

In terms of long-term goals for these startups, nearly half reported they have raised enough capital to hold off for the next year – and 35% plan to remain private, while 33% plan to be acquired and 28% plan go public via IPO.

VCWire

16/02/2024