EAC business thrive despite global economic downturn

BY BUSINESS REPORTER

BUSINESSES in East Africa continue to thrive despite a global downward economic trend, a report by a UK based research organisation indicates.

The report by Regus Business tracker indicate that East Africa businesses beat the global economic challenges posed by the crisis in the US and collapse of the Euro zone to post profits, growth and confidence.

The Regus Business Confidence Index East Africa report released early this month further showed that companies and businesses in the region were recording revenue growth and were willing to hire more workers.

"The proportion of East African companies reporting revenue growth of 63% is twelve percentage points above the global average," the report indicated.

The report further indicated that the increased revenues and growth was a sign of a positive climate of development and it was not surprising to find businesses actively investing in employees.

The Regus Business Tracker report presents an updated Business Confidence Index for businesses globally.

The index is a measurement formed on an aggregate of positive and forward-looking statements combining year-to-date revenue and profit trends with views on the expected economic upturn in the coming months and aims to provide businesses with a single point of reference of the survey’s key findings