How SMEs Are Playing the Tough Game – And Winning
Business Resilience: 68% of the Crew Think They’re Rock‑Solid
In a recent survey from American Express’s Business Barometer, backed by Small Business Saturday UK, 1,000 UK micro‑, small‑ and medium‑sized business leaders answered the tough question: “Can you survive a crisis?” The verdict? A reassuring 68% say their companies are resilient enough to weather any storm, and 69% feel confident about bouncing back fast when challenges hit.
Why the Confidence Is Growing
The study noted that entrepreneurs have learned to navigate a buzzing tide of external pressures—economic shifts, regulatory changes, supply‑chain hiccups—and that’s bolstered their certainty. They’re not just bracing for impact; they’re actively strengthening their defence by embracing tech.
- 71% view themselves as resilient leaders, equipped to tackle the everyday headaches of running a business.
- 74% say that listening to feedback and learning from past hiccups is the secret sauce to building this resilience.
Tech‑Wired Resilience: The Trend That’s Turning Heads
If you think SMEs are keeping it old school, think again. The research found a steady march toward digital upgrades:
- Half of all surveyed firms (49%) have either rolled out or plan to expand Generative AI or machine‑learning solutions.
- For those already on board, the main perks are enhanced customer service (think smart CRM and virtual assistants) and boosted marketing (targeted messages and content creation).
- Between 23% and 23% are spending on tech to streamline processes and automate workflows, or to launch new payment channels like mobile or QR codes.
- Tech investment varies by business size: 52% of micro‑businesses (1‑9 staff) are going digital, whereas 80% of medium‑size firms (50‑249 employees) are already on that path.
Optimism Is a Trendsetting Superpower
Almost three-quarters of SME leaders, 73%, are smiling at the future—and that optimism is mirrored in forecasting: 71% expect to grow over the next year. These numbers have edged up by four points from a year ago, proving that resilience isn’t just a buzzword—it’s a real, practical advantage.
Quotes from the Frontlines
Ruchi Sharma, Vice President, UK Commercial at American Express: “You’ve seen how business owners have had to become nimble and relentless, and it’s heartening to see that this tenacity turns into sturdy businesses and stronger leaders. We’re proud to back them with products, services, and insights that help them thrive into the future.”
Michelle Ovens, Director of Small Business Saturday UK: “Small businesses still wrestle with macroeconomic hurdles, yet many feel ready to tackle growth and bounce back from setbacks. Building resilience—especially through tech—might just be the ticket to securing long‑term success. Let’s rally around the UK’s 5.45 million small businesses and give them the support they need.”
What This Means for You
SMEs that shove the fire away with a mix of tech savvy, thoughtful feedback loops, and relentless optimism are positioning themselves not just to survive, but to thrive. If your business is stuck in the past, consider the evidence—a big boost in resilience and growth is waiting on the other side of a sharp tech upgrade.
