A survey of 225 mid market European electronics, software services businesses has revealed that the majority of companies have weathered the recession well.
The survey, conducted by Opinion Way for KPMG, reveals that 75 percent of companies said that their business was as strong, or stronger at the end of 2009. That leaves 25 percent who said their business was weaker.
Most of the mid market technology businesses think that economic recovery will come next year. Only 12 percent will reduce their headcount, while two thirds will maintain their employee levels during this year. And 25 percent will recruit.
Tudor Aw, KPMG’s technology sector head, said: “Given the economic turmoil over the last 18 months, it is remarkable how well European mid market ESS businesses have come through the recession with two thirds saying that business has been good or very good over the last year. It is also encouraging to see so many ESS businesses move towards a strategic growth agenda in terms of plans to develop new products and services (61%), enter new markets (46%) or contemplate M&A activity (16%).”