International business

Three threats the mid-market saw coming for 2023

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As we entered 2023, three of the threats uppermost in the minds of business leaders in the mid-market were inflation, cyber attack, and economic slowdown.

According to data from the International Business Report (IBR), Grant Thornton’s global survey of mid-market companies, more than half (51%) of business leaders see inflation as an ongoing threat, while 47% cited cyber attack and 50% referenced economic slowdown as a threat at the beginning of this year. However, as spring has emerged so has turbulence in parts of the banking sector. Though not directly reported as a concern as the year commenced, turmoil in the banking sector is a direct result of a high inflation environment and its necessary monetary response, which have added to the climate of uncertainty for many businesses.

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