A global study that reveals the key drivers of success for SMEs in 2017 and beyond
This study, based on a survey commissioned by American Express of 3,200 SMEs in 15 countries, provides a comprehensive view of SME sentiment at a time of heightened uncertainty. The results showed:
- Though SMEs are concerned about the threat of political and economic uncertainty, their business outlook is generally optimistic.
- Many view technology as a positive force for disruption, presenting new opportunities.
- SMEs thrive by exploiting key advantages, which we describe as their Four Aces: Applying technology, Agility, Accelerated innovation, and Attracting talent.
- Many SMEs are developing growth strategies by focusing their expertise in niche markets, driving sales growth at home and abroad.
- Finance remains a key challenge for SMEs—and a significant opportunity exists for financial providers to assist growing SMEs.
- Governments, policy-makers and other agencies can help create conditions that help SMEs prosper. To be effective, however, governments need to understand that different kinds of SMEs have different needs.
Oxford Economics research team
Our economic consulting team produces original, evidence-based research made accessible to decision makers and opinion leaders. Principals for this project included:
Managing Editor, Thought Leadership