Societe Generale Private Banking and Forbes Insights analyse the conditions for global wealth creation
Societe Generale Private Banking and Forbes Insights* have published an exclusive study entitled “Creating Wealth, A Survey of Entrepreneurs Worldwide: Their Insights. Their Challenges. Their Needs.” Based on the views of over 200 wealthy entrepreneurs around the world, the study asks whether they believe conditions are right for economic growth and for building and investing in their businesses and creating jobs. Do they have the confidence in their countries’ economies and in the legal and social environments in which they operate?
With the mindset of entrepreneurs key to economic growth, the study finds that they face contrasting challenges worldwide. They have a wide range of views about the role that governments should play in the economy and their predictions about the world’s future high-growth regions vary, depending on where they are located.
The report’s key findings show that:
• Europeans sound the least confident about their countries’ economies, with the largest percentage (36%) classifying them as poor. Yet Europeans look to Europe as the region that will create more wealth in the next decade than any other region except China. They are the most negative about their government, with the largest percentage of Europeans seeing current government policies as negative for business (67%) and red tape as the top obstacle (39%).
• Rest of the world
Asians are the most enthusiastic about the economy in their country (73%), in their region (72%) and in the world (61%). They look to national champions (60%) and multinationals (49%) as the major factors in wealth creation. North Americans feel much more positive about their country’s and their region’s economy, with 63% classifying it as very good, than they do about the world as a whole, with 39% believing that the state of the world economy is poor. Middle Easterners and Africans are confident about the state of the economies in their own country, with 57% classifying it as very good, while they are neutral on the economies of their regions (43%) and the world as a whole (50%).
The findings of the report highlight the essential role that entrepreneurs play in contributing to economic growth and employment. At the heart of Societe Generale group, Societe Generale Private Banking works closely with wealthy entrepreneurs. As well as seeking first class wealth management expertise, this international clientele is also increasingly interested in access to investment banking solutions that can be made available to them through their private bank, such as private equity, M&A, primary markets or real estate.
In order to optimise its coverage of these clients, a segment of strategic importance to the private bank, Societe Generale Private Banking set up a key client team in January 2015. This new team will continue to adapt the private bank’s products and services to meet the overall requirements of entrepreneur and ultra high net worth clients, many of whom built their wealth through entrepreneurial activities, accompanying them with tailor-made solutions for structuring and protecting their personal assets and providing access to all the expertise available within the Group for their professional needs.
To download the study and watch the introductory video, please click here.
* Forbes Insights is the strategic research practice of Forbes Media, publisher of Forbes magazine and Forbes.com.