ACCA Report: Tech Transformation and Supply Chain Diversification Key to Business Growth
A new ACCOUNTANT report highlights the growing importance of technological transformation and supply chain diversification as key drivers for business growth. The report, based on insights from over 500 senior executives and finance professionals, underscores the challenges and opportunities in the current volatile TRADE landscape.
The survey reveals that 50% of respondents identify AI use as the biggest opportunity for growth. Meanwhile, rising protectionism and geopolitical tensions are seen as the main challenges, with 23% of respondents expecting a decline in TRADE activity. Despite these challenges, 85% of respondents are concerned about the impact of tariffs on their organisations, yet 56% still anticipate significant global TRADE expansion in the next 3-5 years. To navigate these changes, 60% of respondents have already relocated parts of their production, investment, or supply chains, with another 61% planning to do so in the near future. The report also notes that 2025 is considered a pivotal year for international TRADE due to US import tariffs reaching their highest level since the 1930s.
The ACCOUNTANT report underscores the need for businesses to adapt and diversify their strategies in response to the evolving TRADE landscape. Despite protectionist pressures, most businesses still value open and rules-based trading systems for long-term growth. As we approach 2025, companies are preparing for significant changes in TRADE conditions, with many already relocating parts of their operations and supply chains.
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