More evidence that the global credit crunch is easing comes from the latest Grant Thornton International Business Report (IBR) which reveals that privately held businesses (PHBs) around the world are increasingly confident that access to finance will be easier in 2010. 35% of businesses said they thought access to finance would be 'more' or 'much more accessible' in 2010 compared with only 14% who were similarly positive 12 months ago.
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Optimism amongst privately held businesses (PHBs) around the world has bounced back to give the Grant Thornton global optimism/pessimism index for 2010 an optimism balance* of +24%, compared to its lowest ever score of -16% this time last year. The International Business Report (IBR) survey of over 7,400 PHBs across 36 economies, now in its 18th year, also highlights a group of ten economies where businesses are more optimistic about the outlook for their economies than International Monetary Fund (IMF) forecasts might suggest.
Grant Thornton International, the global accounting organisation, has announced combined global revenues of $3.6 billion from its 96 member firms - steady for the year ended 30 September 2009 measured at constant exchange rates but a decline of 9% from 2008 when adjusted for exchange rate fluctuations against the US dollar.