Increasing competition set to impact businesses: Forvis Mazars C-suite barometer 2025

• Increased competition and heightened geopolitical instability are now the two highest rising trends holding back growth for executives – 35% (up 13 points) and 30% (up eight points from 2024), respectively.
• Leaders expect economic uncertainty (39%) and increased competition (33%) to have the biggest impact on their organisations.
• More than four in five businesses (83%) plan to expand to at least one new country in the next five years, with over 40% targeting three or more new countries.
• Just under half (43%) of organisations continue to report a struggle to recruit talented people.
• 90% of the Romanian C-suite leaders have a positive outlook for growth.
• More than four in five Romanian businesses saw growth in 2024.

The 2025 study found the majority (93%) of C-suite executives worldwide have a positive growth outlook for their organisations, but there are still challenges ahead. Results show a significant increase in competition and geopolitical instability worldwide, as the highest rising trends impacting organisations and likely to hold back growth.

The report captures the views of over 1,700 C-suite executives across more than 35 countries and territories. While leaders remain focused on tackling trends expected to impact their business - economic trends (39%), increased competition (33%) and emerging tech (31%) - 43% still view IT and technology as the key to transformation and growth, placing it at the top of their strategic priorities. Leaders also remain committed to international expansion plans and new or revised talent and retention strategies, which will play a major role in redefining organisations, creating opportunities to unlock growth and compete for market share.

Partner and Chief Clients & Markets Officer, Mark Kennedy said: “It’s encouraging to see the positive growth outlook C-suite executives still have. This is built on the successes achieved in quite a volatile environment over the past two years and shows the resilience that many leaders and their businesses have established over time - a key strength as they build for what’s next amid increasing competition and geopolitical instability. The overarching challenge of 2025 will be maintaining strategic priorities and a clear vision amid new market entrants, continuing technological disruption and potential market turbulence if they are to lead their businesses to success and cut through increasing competition.”  

Digital agility and data-powered transformation

Transformation of IT and technology still dominates as the top strategic priority of business leaders, with nearly half (43%) confirming this at the top of their agenda - up a massive 11 points in just 12 months.​ A majority (85%) also feel confident in the potential return this investment will deliver.​

The big rush to jump on the latest tech trends seems to have shifted. When it comes to investing in artificial intelligence, C-suite executives are clearly committed - 87% are clear that Gen AI will have an impact and 91% already have a strategy for implementing it.​ What’s most interesting is the shift in deployment of AI from more organisations now optimising internal processes rather than externally facing commercial products/services. ​

Investment in international expansion

C-suite executives have high ambitions for international expansion. It is a top strategic priority for a quarter of leaders around the world and a strong majority (83%) already have plans in place to begin operating in one or more new countries in the next five years. ​

The US, Germany, UK, China and Canada have emerged as the top countries targeted for expansion, and the study has found the most leaders with international expansion plans are based in the Middle East and Latin America.

For these C-suite executives that seek to expand internationally, understanding local regulations and requirements is cited as the top challenge for leaders in every region, followed by securing a local workforce and diversifying products/services to suit new markets.​

Upskilling and upscaling talent to tackle scarcity

People continue to shape priorities and are the clear capital for organisations to compete and grow. New or revised Talent attraction and retention strategies are a top three strategic priority for a quarter of leaders, and just under half (43%) of organisations say they struggle to recruit talented people.​

Executives are reporting widespread difficulty in attracting and hiring the right talent and the main challenge now is in recruiting entry and mid-level talent, compared to the gaps in senior talent revealed in 2024.

Romanian C-suite executives are showing remarkable optimism for business growth in 2025, with 90% expressing a positive outlook, which aligns with the Central and Eastern Europe (CEE) results and is only slightly behind the global figure of 93%. This confidence is particularly striking given the ongoing challenges - such as the war at the border, economic pressures, and political uncertainty. It speaks volumes about the resilience and adaptability of Romanian businesses in such a turbulent environment.

Dino Ebneter, Country Managing Partner, Forvis Mazars in Romania, commented: „Looking back at 2024, over four in five Romanian businesses reported growth, with half seeing strong growth of 10% or more - figures that surpass both the regional (34%) and global (42%) averages. This performance highlights how Romanian organisations have managed to not only survive but thrive. However, even considering the positive growth, factors such as increased competition (36%), new regulations (28%), and political instability put an extra pressure that could hinder further growth. These challenges are top of mind for business leaders, as they navigate an increasingly competitive and unpredictable market.”

That said, Romania has always found a way. Over the last decade, we have faced many challenges, but through hard work, creativity, and a relentless drive, we have continually adapted and overcome. The strength of our people, the innovation of our teams, and our commitment to pushing forward even when times are tough has not only set Romanian businesses up for success in the past, but also positions them for success in 2025 and beyond.

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About the study   

The C-suite barometer: outlook 2025 examines the views, challenges, and strategic priorities of today’s C-suite leaders around the world. This independent research was conducted between 28 September and 23 October 2024 and captures the views of 1,706 C-suite leaders at for-profit organisations with annual revenues of over $1million across more than 35 countries. 

About Forvis Mazars

Forvis Mazars is a leading global professional services network. The network operates under a single brand worldwide, with just two members: Forvis Mazars LLP in the United States and Forvis Mazars Group SC, an internationally integrated partnership operating in over 100 countries and territories. Both member firms share a commitment to providing an unmatched client experience, delivering audit & assurance, tax and advisory services around the world. Together, our strategic vision strives to move our clients, people, industry and communities forward.  

Forvis Mazars is the brand name for the Forvis Mazars Global network (Forvis Mazars Global Limited) and its two independent members: Forvis Mazars LLP in the United States and Forvis Mazars Group SC. Forvis Mazars Global Limited is a UK private company limited by guarantee and does not provide any services to clients.

Visit forvismazars.com to learn more.

About Forvis Mazars in Romania

In Romania, Forvis Mazars has 30 years of experience in audit, tax, financial advisory, outsourcing, consulting, and sustainability. We empower over 370 people to deliver our promise to clients with confidence.

Visit forvismazars.com/roto learn more.