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Uncertainty may be mounting for mid-sized technology, media and telecoms (TMT) businesses but there is every reason for business optimism, according to a new report by Grant Thornton.
The optimism of more than 450 TMT leaders in nearly 40 economies – surveyed as part of the latest International Business Report (IBR) – fell from 45 per cent to net 29 per cent in the first half of 2019 with expectations around revenues, profits and employment also taking a hit.
However, Grant Thornton Isle of Man believes mid-sized businesses actually have the opportunity to act as trailblazers as companies look to transform their digital and technological offerings.
Lisa Lord, an Associate Director at the Athol Street-based firm, says businesses in other industries have looked to new technologies as the path to transformation and the TMT industry can also ride out the turbulence and thrive.