COVID-19 is a ubiquitous topic dominating the media landscape and short-term strategies of CEOs leading small and midsize technology and service providers. According to Gartner’s recent Tech CEO Research Circle survey “COVID-19: Recession”, almost half (45%) of tech CEOs are worried about a recession impacting their revenue growth.
What’s Driving Tech CEOs’ Concerns Around Revenue Growth?
Our recent Tech CEO Research Circle survey “COVID-19: Recession” explored how tech CEO’s posture toward economic downturn preparations and predictions for how their businesses will be affected have changed. These are the key takeaways:
- More than half of participating organizations (54%) felt that an economic downturn will inhibit revenue growth due to reduced demand in products/services.
- Among those Tech CEOs, a majority believe revenue growth will be impacted the most (86%) from a global economic recession. Half also expect their organizations’ profit margins and ability to plan long-term to be affected.
- Regarding the short-term impact of COVID-19 on businesses in the next month, participants most commonly anticipate a slowdown in sales growth (48%).
What is your posture toward economic downturn preparations and what are your predictions for how your business will be affected? Join the discussion with your tech CEO peers and Gartner analysts in the exclusive community here: Gartner Tech CEO Research Circle
If you are searching for more guidance, Gartner has composed a collection of resources and complimentary research on how to protect your people, maintain operations and sustain your organization during the pandemic and beyond. Coronavirus (COVID-19) Resource Center.
About Tech CEO Research Circle
Gartner Tech CEO Research Circle is an exclusive, non-subscription community of leaders in small or medium technology and service provider businesses. The topics covered provide a distinctive view into the unique challenges, needs, and strategies of tech CEOs.
Members interact with Gartner on a range of developing research top-of-mind for tech CEOs, including product strategy, customer acquisition, business performance management, and corporate development.
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