SAN FRANCISCO, December 19, 2022–(BUSINESS WIRE)–A third of global businesses anticipate that the current inflationary environment will continue for more than two years, according to new research from Taulia. Expectations were gloomier in the UK, with more than two in five (42%) predicting high inflation would last more than two years, while a third (34%) of businesses in Germany and over a quarter in Singapore (29%) and the US (27%) said the same.
Half of businesses globally (50%) expect today’s inflationary environment to last between one and two years, and nearly two-fifths (37%) of businesses believe inflation will worsen over the next year.
Only 15% of businesses globally anticipate that current inflationary pressures will last less than 12 months. US firms are more optimistic about this with over a fifth (21%) saying inflation will last less than 12 months, compared to 11% of UK businesses.
Dealing with inflation is cited as the main challenge that businesses expect to face over the coming year. As a result, the findings show that businesses are increasing their budgets to prepare for economic uncertainty. Compared to 12 months ago, businesses on average increased their budgets by 13%.
Cedric Bru, CEO, Taulia, comments: “Inflation is having a profound impact on businesses across the globe, causing supply chain disruptions, rising costs and higher borrowing costs. As a result, businesses need to increase their budgets to help navigate the storm and to settle for future survival and success.”
ENDS
Notes to editors:
Research conducted by Opinium among 550 finance decision makers in the UK, US, Germany and Singapore in businesses of USD 750m + annual revenue between 10-24 October 2022.
About Taulia
Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access the value attached to their payables, receivables and inventory. A network of more than 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 with early payments and contribute to building sustainable supply chains. Taulia processes more than $500 billion annually and is trusted by the world’s largest companies, including Airbus, AstraZeneca and Nissan. In March 2022, Taulia became part of SAP. Taulia operates as an independent company with its own brand in the SAP Group.
For more information, please visit www.taulia.com.
Check out the source version at businesswire.com: https://www.businesswire.com/news/home/20221219005074/en/
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