San Francisco, December 19, 2022–(BUSINESS WIRE)–A third of global businesses expect the current inflationary environment to last more than two years, according to new research from Taulia. Expectations are the most pessimistic in the UK, where more than two-fifths (42%) of businesses expect high inflation to last for more than two years, compared with a third (34%) in Germany and more than a quarter (29%) in Singapore. ) agree with the US (27%).
Half (50%) of businesses globally expect the current inflationary environment to persist for one to two years, and nearly two-fifths (37%) see inflation worsening next year.
Only 15% of businesses globally predict that current inflationary pressures will last for less than 12 months. US firms were the most optimistic, with more than a fifth (21%) saying inflation would last less than 12 months, compared with 11% of UK firms.
Dealing with inflation is seen as the biggest challenge businesses will face next year. As such, the findings suggest that businesses are increasing budgets in response to economic uncertainty. On average, businesses are spending 13% more on budgets than they did 12 months ago.
Taulia CEO Cedric Bru commented: “Inflation is having a profound impact on businesses around the world, leading to disrupted supply chains, higher costs and higher borrowing costs. As a result, businesses have had to increase their budgets to help weather the storm and prepare for future survival and growth. Success.”
Opinium conducted a study of 550 financial decision makers at businesses with annual revenues over US$750 million in the UK, US, Germany and Singapore between 10-24 October 2022.
Taulia is a San Francisco, California-based fintech provider of working capital management solutions. Taulia helps companies capture the value associated with their accounts payable, receivable and inventory. A network of over 2 million businesses use Taulia’s platform to determine when they want to pay and get paid. Taulia enables its clients to execute their working capital strategies, support their suppliers through early payment, and contribute to a sustainable supply chain. Taulia processes over $500 billion annually and is trusted by the world’s largest companies including Airbus, AstraZeneca and Nissan. In March 2022, Taulia becomes part of SAP. Taulia operates as an independent company within the SAP group with its own brand.
For more information, visit www.taulia.com.
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