Private firms see 23 percent decline in stress levels
Friday, 26 March 2010, 15:12 IST   |    3 Comments
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Private firms see 23 percent decline in stress levels
Mumbai: According to the Grant Thornton International Business Report, the stress levels at privately-held Indian companies is lowered by 23 percentage from mid-2007 levels due to the stability in the capital market and renewed confidence in growth. According to the Economic Times, the report which is prepared by Grant Thornton, an accounting, tax, and advisory firm, states that only about 56 percent of around 500 participants in the survey said that the stress levels increased in 2010, compared with 79 percent in 2007. India's stress levels fell the most among 36 countries polled in the report. The rise was sharpest in Ireland, Mexico and Spain. Yet, China had the highest absolute stress levels, with 76 percent respondents reporting higher stress levels now, compared with 84 percent in 2007. "Low stress will mean better decision-making and more focus on business," said Anupam Kumar, Associate Director for privately-held business solutions at Grant Thornton India. The stress levels in the past six months were driven by economic indicators, competitive pressures, and cash flow, according to the survey. Grant Thornton did not survey businesses in 2008 and 2009, as the global economic meltdown would have warped survey findings, Kumar added. The economic crisis made many of the mid-sized companies aware that they were too dependent on individual clients. So, they are now focusing on higher revenue and globalisation, Kumar said.

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