Global SMEs are showing increasing optimism about their future prospects, according to the new Global SME Confidence Index from Alibaba.com, a leading B2B e-commerce platform.
The study with SME decision-makers across France, Germany, the UK, and the US, highlights a strong sense of resilience as SMEs navigate a challenging business landscape.
The report found that 69% of SME leaders feel more positive about their growth opportunities compared to six months ago. German SMEs lead the optimism, with 74% of respondents reporting an improved outlook, followed by 65% of French SMEs. This upbeat sentiment is largely fuelled by plans for innovation, as nearly half (45%) of global SMEs intend to launch one to two new product lines within the next year.
However, this optimism is tempered by significant challenges. Inflationary pressures are the top concern for 38% of SMEs, followed by difficulties in marketing and customer acquisition (31%). Supply chain disruptions and stock availability also remain 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% working with online B2B marketplaces like Alibaba.com to source new and innovative products. Additionally, 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.
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