SME strategies for success
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.
Managing Editor, Thought LeadershipEmail