China no match for our business confidence

A marked shift in patterns of business confidence has been found in the Grant Thornton International Business Owners Survey 2006. The survey finds Indian business owners at the top for the third year in a row despite China's entry into the study.

While there was a dramatic fall in confidence among business owners in the US and the UK, there was a marked rise in optimism among those in Japan and Germany about their prospects, stated a company statement.

The survey, which was conducted in 30 countries, unraveled the level of confidence that the business community reposed in the future prospects of their countries.

The robust performers of recent times like the US and the UK have seen waning optimism while the powerhouses of the 1960's to 1980's, Japan and Germany, are viewed as having better prospects by medium-sized businesses.

India had continued to soar in economic confidence, with the most optimistic business owners of all, third year in a row with an optimism/pessimism balance of +93, added the release. China, the first-time participant in the survey, had a confidence score of +77.

IBOS is the only of its kind of study that focuses on the views of international business owners of medium-sized enterprises on their outlook for their economy, their businesses and their views on other topical issues.

According to the release, the confidence of business owners in the US regarding the economy has dropped by nearly half from +62 to +32 in one year.

The fall has been even more dramatic in the UK, from +46 to just +8. Amongst the gainers, Germany's balance this year was +41 and Japan, although remains still negative at -14, it may be on the cusp of a serious revival in confidence.