Business leaders worldwide are expressing optimism for revenue growth in 2024, despite grappling with working capital challenges

According to a survey conducted by C2FO, a working capital platform, 78% of companies anticipate revenue growth this year, with 32% expecting growth exceeding 10%.

However, nearly a quarter of businesses surveyed cited insufficient access to capital to sustain operations for a year.

“Many businesses are seeing conditions improve, but the post-pandemic pains still remain,” said Chief Sales Officer Colin Sharp, who highlighted supply chain disruptions and labour shortages as persistent challenges, underlining the importance of managing cash flows effectively in an uncertain economy.

One notable challenge identified by respondents was the impact of high interest rates on funding access, with 54% naming it as a significant obstacle in 2023.

Looking ahead to 2024, 42% anticipate negative effects from higher interest rates on their growth prospects.

The survey also revealed that 43% of companies plan to increase headcount while just 3% predict a more-than-10% headcount reduction.

The U.S. is most optimistic, with 35% planning to hire 1 to 10%, followed by India at 34%, Mexico at 33%, and the U.K. at 26%.

Just under four in 10 (39%) plan to keep the headcount the same in 2024, found the C2FO survey, while 20% plan to reduce headcount.