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Monday 18.02.2019 | Name days: Kintija, Kora

EY: biggest threats to businesses – new business models and shortage of workers

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU31% of businessmen consider influence of new business model and the ongoing shortage of workers as the main short-term threats to their business. Other major risks include geopolitical and legislative uncertainty, which are considered the main threats by 29% of respondents participating in EY latest Global Capital Confidence Barometer.

Only 17% of businessmen consider the shortage of workers as the biggest threat to their business.

In spite of the fact that over the past two years the economic growth rate has been losing its steam and has been shaping to be less balanced between certain regions and countries, businessmen remain positive and optimistic about the economic situation overall – 85% of respondents say economic conditions are steadily improving.

«The latest capital confidence study shows a rather unambiguous picture – businessmen remain positive, whereas the environment gradually becomes more imbalanced. While the economy in USA grows, Germany’s growth becomes slower. Unresolved problems keep piling up – including the lack of Brexit solution, US trade tariff policy and geopolitical tension in certain regions of the world. Uncertainty will definitely change expectations and behaviour of major players. It should be concluded that capital confidence remains optimistic. Nevertheless, there are reasons for businessmen to remain cautious,» comments EY partner in Baltics Guntars Krols.

The environment is generally good for mergers and acquisitions deals, 90% of businessmen believe conditions for M&A will improve next year. Nevertheless, 46% of businessmen have begun preparations to perform some M&A deal in the next year, which is 10% less than a year prior. As for possible risks for the business environment, 46% of respondents said legislative and political uncertainty present considerable risks for business transactions.

EY survey shows that without good workers, businessmen around the world are putting efforts into using existing employees to their maximum potential. 43% of respondents admit the biggest challenge is associated with motivating and retaining existing employees, followed by training of new skills and helping employees adapt to new technologies and business models. 29% of interviewed businessmen named this the biggest labour force challenge.


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  1. Joe says:

    Truth finally arrives in the EU: “Only 17% of businessmen consider the shortage of workers as the biggest threat.”. Should we understand that the shortage of free workers should be adressed by society for the benefit of private entities?

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