Global businesses will continue to walk a tightrope next year, according to a report by Ernst & Young.
The report says regulation and compliance remain the biggest concerns for companies heading into 2011. That was also the top concern in 2009.
Ernst & Young also says businesses expect cost-cutting and competition to increase, as companies fight for market share.
Europe, Middle East, India and Africa adviser Andrew Embury says that concern has moved up the list.
Businesses are scrambling for their share of the cake in emerging markets, he says, while mature markets have limited offerings.
Mr Embury says concern about accessing credit fell five places to seventh.