The American Express Business Barometer reveals that 68% of leaders of small and medium-sized enterprises (SMEs) feel their businesses are resilient following recent challenges. This resilience is accompanied by optimism, as 73% express confidence in their company's future, with 71% anticipating growth over the next year. Leaders attribute their resilience partly to seeking feedback from past experiences. Additionally, many SMEs are looking to invest in technology, with a focus on improving operational efficiency and integrating new payment channels, reflecting a strategic embrace of innovation to future-proof their operations.
More than two thirds (68 per cent) of leaders of small and medium-sized businesses believe that their company is resilient after weathering the recent storms brought on by external events.
The survey found that 71 per cent of respondents believed that they were resilient as a leader, meaning that they were well equipped to deal with the range of challenges that running a business may throw their way.
Ruchi Sharma, vice-president, UK commercial at American Express, said: "Business owners and leaders have needed to be more agile and determined than ever and it's encouraging to see in our latest Business Barometer how the SME community believe this is translating into more resilient businesses and stronger leaders."
Nearly a quarter (23 per cent) of SMEs are planning to invest in tech that helps to drive process efficiency and automation.
#sme-resilience #business-growth #leadership #technology-investment #american-express-business-barometer
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