Consulting Report
05 Jun 2024

2024 Payoneer SMB Ambitions Barometer

SMBs Turn to AI, Supply Chain Diversification, and New Trade Corridors to Grow Across Borders Despite Headwinds

In early 2024, in collaboration with Payoneer, Oxford Economics conducted the second-annual Payoneer SMB Ambitions Barometer survey to understand the barriers and opportunities faced by small- and medium- sized businesses (SMB) globally.

Oxford Economics surveyed 3,779 SMB decision-makers across 15 countries and over 16 industries to understand how SMBs are navigating markets, securing capital, and pursuing growth opportunities in the face of global disruptions, economic instability, and rapid technology advancement. Our research found that SMBs are continuously looking to new geographic markets for business growth opportunities—but navigating new markets comes with challenges, such as language and cultural barriers, lack of cross-border payment capabilities, and cybersecurity risks. To ease growing pains, SMBs are diversifying their vendor networks and utilizing new technologies, like AI, to reach global aspirations and mitigate external threats.

The experts behind the research

Our Thought Leadership team produces original, evidence-based research made accessible to decision-makers and opinion leaders. Principals for this project included:

Zack Friedman

Managing Editor, Thought Leadership

Sundus Alfi

Senior Research Manager, Thought Leadership

Kayla Luparello

Research Manager, Thought Leadership

Margaux McLoughlin

Research Associate, Thought Leadership

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