5 key insights on the future-readiness of SMEs - The World Economic Forum The top challenges cited by SME executives include talent acquisition and retention (52 5% respondents), growth and expansion (43 8%), funding and access to finance (35 7%), non-supportive policy environment (21%), and the difficulty of maintaining a strong culture and clear company purpose and value (20%)
4 Steps SMEs Can Take For Their Development and Business Success Specialist forums of this kind could significantly bridge the knowledge deficit in SME finance and keep them competitive With a critical mass of members and visible support from some of the largest financial institutions across the world, such a forum could foster a virtuous cycle of knowledge, leading to a greater flow of funds to SMEs
These charts show which businesses are driving the EU economy New Eurostat data shows that small and medium-sized enterprises (SMEs) make up over 99% of EU companies The insights can help target policies and inform debate at the World Economic Forum Annual Meeting 2024 in Davos
SMEs can turn cybersecurity risk into opportunity. Heres how Moreover, at a fundamental level, low awareness of cybersecurity threats and measures within organizations leads to weak protection strategies and insufficient security protocols At a macro level, the absence of tailored policies for the SME sector leads to further disparity in effective protection strategies
Digital transformation can unlock SME potential | World Economic Forum Despite their economic significance, SMEs have experienced a decline in their contribution to GDP In the US, for example, SME contribution to GDP has fallen nearly 5%, from 48 0% to 43 5% from 1990 to 2014 The absence of technological adoption has been a significant factor in this decline
Why AI agents will be a global trade game changer for SMEs Different from traditional keyword search engines, Accio uses natural language processing to enhance search capabilities, enabling SME buyers to intuitively find the products they need It now boasts more than 500,000 SME users and, impressively, half of the top 20 countries using this tool are SMEs in developing countries , such as Pakistan
Why SMEs are key to a more sustainable and inclusive world | World . . . We only have a few years left to alter the trajectory of our GHG emissions, reduce global inequalities, and achieve the substance of the 2030 Agenda for Sustainable Development Individually, the contribution of each SME might be modest, but collectively they could make a whole world of a difference
Small Business, Big Problem: New Report Says 67% of SMEs Worldwide Are . . . Rashimah Rajah, Professor at the National University of Singapore and co-lead author of the report, added: “SMEs and mid-sized companies have unique strengths in their ability to pivot their business models to be more future ready and, by hiring and developing the right talent, they can mobilize positive internal and external change faster than larger companies
The big opportunity behind small businesses | World Economic Forum This includes our future readiness self-assessment and benchmarking tool, the creation of an SME digital community for peer-to-peer learning between companies as well as meet-ups with experts and the expansion of our New Champions community, a select group of mission-driven mid-sized companies
Why priming Africa’s SMEs for growth needs more than money | World . . . Financing is a challenge for SMEs in Africa, but other factors are also critical to SME growth on the continent A healthy and expanding small business segment in Africa increases employment, broadens the tax base, grows national revenue and frees African governments to fund social and economic infrastructure