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Vietnam Business » Vietnam Business News » Survey shows many local firms stressed over cash flow

Survey shows many local firms stressed over cash flow

According to the latest Grant Thornton International Business Report, 72% of private business owners in Vietnam felt stressed last year due to their operations cash flow and overwhelming workloads.

As shown in the report compiled from a survey conducted among 7,400 business owners across 36 economies, Vietnam ranked fourth, alongside Turkey, among business owners who said their stress levels had increased over the last year. Top on the list are mainland China with 76% and Mexico with 74%.

Ken Atkinson, managing partner of Grant Thornton Vietnam, said there were several contributing factors.

"In Vietnam, the top four reasons given for the high level of stress were the economic climate, workload, competitor activities and pressure on the cash flow," he said.

Enterprise owners worldwide agreed. Last years economic climate created the most stress, with 38% of the surveys respondents citing it as their biggest worry in 2009. Cash flow pressure came second at 26%, while competitor activities and heavy workloads followed at 21% and 19% respectively.

Matthew Lourey, Grant Thorntons corporate finance director, said: "Vietnam has seen significant GDP growth and workload and the tightening of monetary policy has undoubtedly contributed to the stress level."

The survey also found a correlation between stress levels and the number of days individuals took off per year. Countries with higher stress levels were those where business owners took fewer holidays.

In Vietnam, business owners take just seven days of holiday, on average, per year. The survey found similar results for mainland China and Mexico.

Atkinson said that it is beneficial for business owners to take time off work.

"Here we have business owners themselves providing robust evidence that those able to take more holidays are less stressed than their counterparts in countries where holidays are less frequent. Our experience of working with privately held businesses globally shows us that taking the time to step away from the business, to reflect and recharge can help owners to bring a new perspective to their decision making," he said.

Vietnam Business And Financial News Network. Source [english.thesaigontimes.vn]

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