Key survey findings at a glance:
- Small and Medium sized Enterprise (SME) business leaders rank economic uncertainty top risk to business grow, followed by a mix of complex an inter-related concern.
- Expectations for global economic growth are gloomy with only 20% expecting economic growth rates to increase. Yet, confidence in own ability to grow optimistic with 31% stating they are ‘very confident’.
- Launching new products or services is the main actions SME business leaders plan to take in 2020, while improving operational efficiency ranks as their top focus area to strengthen.
- They recognise the importance of talent to unlock business success. 80% is exploring new ways of working and investment into human capital ranks in the top five actions SME business leaders are taking in the next 12 months.
- For the purposes of this article, SMEs are defined as enterprises with an annual turnover up to US$25 million. As part of our Inaugural Survey of Business Leaders, we interviewed 158 SME business leaders in a variety of industries and sectors, during the fourth quarter of 2019.
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