A recent study with SME decision-makers across France, Germany, the UK, and the US reveals a strong sense of resilience among SMEs as they navigate a challenging business landscape. The report indicates that 69% of SME leaders feel more positive about their growth opportunities compared to six months ago.
German SMEs are leading the surge in optimism, with 74% of respondents reporting an improved outlook. Meanwhile, 65% of French SMEs share this positive sentiment. This optimism is largely driven by plans for innovation, with nearly half (45%) of global SMEs intending to launch one to two new product lines within the next year.
However, this optimism is tempered by significant challenges. Inflationary pressures remain the top concern for 38% of SMEs, followed by difficulties in marketing and customer acquisition at 31%. Supply chain disruptions and stock availability also persist as critical issues, with 25% of SMEs citing these as major hurdles for the coming year.
To tackle these challenges, global SMEs are increasingly turning to online sourcing solutions, with 52% of them working with online B2B marketplaces to source new and innovative products. In addition, digital tools are playing a crucial role in SMEs’ strategies: 56% plan to utilise social media, 50% will leverage their company’s own websites, and 43% are looking to digital advertising. Emerging technologies like AI are also on the radar, with 26% of SMEs exploring AI tools, including image search, as a significant opportunity for growth.
Kuo Zhang, President of a major online marketplace, commented on the findings: “Our research highlights strong growth in optimism amongst SMEs across the world, as they embrace digital sourcing channels and look to enhance their product offerings. SMEs in key global markets are united by the opportunities presented by the integration of AI, and with more than half of global SMEs planning to use social media to stay competitive, it’s clear that ambitious businesses are increasingly turning to digital tools and platforms.”
The release of the Global SME Confidence Index coincides with a flagship month-long online trade show designed to help businesses source new products in time for the holiday season. This year, the event has already seen a 69% increase in orders within the first week compared to the same period last year. The event connects over 48 million buyers with 200,000 suppliers worldwide, facilitating access to new products and innovative solutions through livestreaming technology and virtual reality showrooms. The event runs until the end of September, providing a dynamic platform for business buyers to discover new products and suppliers, enhancing their ability to grow and compete in an increasingly digital marketplace.
SMEs worldwide are demonstrating resilience and optimism despite significant challenges. By leveraging digital tools and embracing innovation, these businesses are positioning themselves for growth and competitiveness in a rapidly changing market.
