Press listing
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27/05/10 Privately held businesses (PHBs) support simplifications to financial reporting
Years of investor and regulator demands for greater transparency in financial reporting amongst listed companies is now affecting attitudes in the world of privately held businesses. More than half of leaders of privately held businesses (PHBs) globally (52%) believe that greater transparency is a key benefit of financial reporting according to the latest IBR research. This sentiment is shared by 69% of Singapore businesses who cited this as the top benefit. They (75%) also indicated they welcome the adoption of IFRS for SME in Singapore. The Grant Thornton International Business Report (IBR) research covers the opinions of over 7,400 business owners across 36 economies.
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31/03/10 Emerging markets lead the way to economic recovery
The future looks bright for emerging economies according to the Grant Thornton International Business Report 2010. A balance of +57% of privately held businesses (PHBs) in 14 of the world's leading emerging markets indicated that they were optimistic about the prospects for their country's economy in the year ahead. At the same time, a balance of just +2 per cent of businesses in mature economies indicated that they were optimistic. These figures compare with a global average of +24 per cent.
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17/03/10 Heavy workload and economic climate upped stress levels for business owners in Singapore
Nearly half (45%) of privately held business (PHB) owners in Singapore reported that their stress levels have increased over the last year. Specifically heavy workload (29%) and economic climate (23%) were cited as the top two major causes of stress at the workplace. The global stress index is 56% with Mainland China, Mexico, Turkey and Vietnam taking top four positions (Fig 1). Not surprisingly, the top two causes cited by the global business owners pointed to economic climate (38%) and cash flow (26%). This is followed by competitor activities (21%) and heavy workload (19%) as the most common causes of increased stress.
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05/03/10 Tough year ahead for employees
While the majority of businesses around the world are more optimistic for 2010, employees would be wrong to think the worst is over. When asked about their intentions for employee salaries in the year ahead 40% of Singapore PHBs (globally 36%) indicated that they were less likely to give pay rises during 2010 than they were in 2009 where 49% indicated they would (globally 24%.) And while 52% of employers did indicate that they plan to increase pay by inflation or above during 2010 (globally 51%), there is a drop of 19 percentage points against 2009.
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10/02/10 M&A activities set to increase as privately held businesses anticipate the return of financial and trade buyers
The latest findings revealed that privately held businesses (PHBs) anticipating a change of ownership increased to 10% this year compared with 6% twelve months ago. Of those, 27% anticipate selling to a trade buyer compared to only 18% last year, and 25% expect to sell to a financial investor (22% in 2009). Despite an improving economic outlook, Singapore PHBs like their counterparts elsewhere in the world tread cautiously when asked about their intentions for acquisitions. The combination of a brighter global economy and comparatively low valuations offers interesting acquisition opportunities.
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28/01/10 Grant Thornton announces $3.6 billion global revenues
Grant Thornton International, the global accounting organisation, has announced combined global revenues of $3.6 billion from its 96 member firms - steady for the year ended 30 September 2009 measured at constant exchange rates but a decline of 9% from 2008 when adjusted for exchange rate fluctuations against the US dollar.
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22/01/10 Grant Thornton response to IOSCO consultations on global audit market highlights threat to capital markets
The current structure of the large company audit market is not sustainable and could threaten the stability of global capital markets, Grant Thornton said in its submission to IOSCO's consultations on the global audit market Grant Thornton welcomed IOSCO's interest as recognition of institutional shareholder concern over excessive concentration among just four firms as auditors to the world's largest listed companies.
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20/01/10 Singapore businesses are more confident about access to finance in 2010
More indications that the global credit crunch is easing comes from the latest Grant Thornton International Business Report (IBR) which reveals that 36% of privately held businesses (PHBs) in Singapore are increasingly confident that access to finance will be easier in 2010; a 10 percentage point jump compared to 26% in 2009. At the other end of the scale the percentage of businesses expecting finance to become less or much less accessible shows a healthy low of 6% compared to a high of 48% in 2009. Globally 35% of businesses said they thought access to finance would be 'more' or 'much more accessible' in 2010 compared with only 14% who were similarly positive in 2009.