Thus, 67% of the respondents expect a moderate turnover growth, of 1%-10% in 2014, while 19% expect a 10%-20% growth.
Profit growth estimations are also positive, given that 51% of the respondents expect a 1%-10% growth, while 19% estimate a double-digit profit growth, of up to 20%.
Only 14% of respondents are very optimistic, counting on a 20% -30% profit increase.
As for the employees, 14% of respondents said they plan to increase the number of employees by 10%-30% in 2014, compared with 5% of the respondents a year earlier, while 37% estimate the number of employees will stay unchanged, compared with 56% in 2013.
In 2014, 19% of the business executives plan to increase salaries by 5%-10%, compared with 55% in 2013, while 19% expect a stagnation of the salary, compared with 42% last year.
The companies will continue to focus on increasing market competitiveness this year, with 22% of the respondents saying they would cut costs (compared with 30% in 2013), while 32% will increase productivity in 2014 (28% in 2013).
Low costs continue to be an important factor for the company’s market competitiveness, according to 26% of the respondents, compared with 31% in 2013.
Unlike last year, when most companies (76%) said that they would continue to stay on the market if it declined, in 2014 only 56% say the same. A still high percentage of companies (56% in 2014 vs. 46% in 2013) though, are willing to transform the market through innovative approaches in case such a decline occurs.
31% of business executives who participated in the Ernst & Young study believe that their success on the market depends largely on the skills of the team, while 82% consider that the labor force education level is very important for the success of the company.
In 2014, 49% of the business executives say they will use banking loans for companies’ investments (compared with 45% in 2013), while only 2% of respondents are considering the possibility of using EU funding in 2014.
The EY survey on the Romanian business environment in 2014 is based on a study that examines the perceptions of 117 top executives from local organizations operating in various economic sectors. The vast majority of those involved in the study (52%) come from companies with turnovers of more than EUR50 million. They answered the Ernst & Young survey during January 23 –February 6, 2014.