Small and medium-sized companies see the high energy and raw material prices, the uncertain availability of raw materials and the shortage of skilled workers as the greatest economic risks. Nevertheless, they are confident.
Swiss SMEs remain largely optimistic about their own economic development. However, the war in Ukraine, rising prices and supply bottlenecks for energy and raw materials are worrying many entrepreneurs. They attach great strategic importance to sustainability, as well as to a commitment to sustainable supply chains. For them, the main demands on policymakers are to drive forward the energy turnaround, improve relations with the EU, reduce bureaucracy and secure the need for skilled workers. These are the findings of Raiffeisen's latest SME survey.
SMEs are better prepared for crises than before
The SMEs surveyed are largely optimistic about the future. 56% have been able to further increase their sales in the past twelve months. More than half (63%) expect sales to increase in 2022. Despite the enormous pressure, the SMEs here appear to be better prepared for crises than before. Only just 8% of those surveyed said they were not prepared for crises and, accordingly, were able to react to them poorly to very poorly. Roger Reist, Head of Corporate Clients, Treasury & Markets and member of the Executive Board at Raiffeisen Switzerland, is impressed by the resilience of Swiss SMEs: "SMEs not only impressively demonstrated this resilience during the Corona pandemic, but also further enhanced it. It is therefore not surprising that the majority of the companies surveyed are also coping well with new challenges. " But he warns, "Due to the current situation in the energy and commodity markets, SMEs are facing very challenging times with various uncertainty factors."
Optimism coupled with a bleak outlook
Inflation as well as access to resources and the disruption of international value chains are weighing on the economic situation of Swiss SMEs. Accordingly, the outlook for the next twelve months has clouded over compared with spring 2021. Of the companies surveyed, only just under half expect the economic policy environment to be very good or good, with larger SMEs, with sales of over CHF 10 million, assessing the economic policy environment better than smaller ones.
SMEs, on the other hand, assess their own economic situation better. 73% of the SMEs surveyed report a very good or good current economic situation for their own company. 87% of them expect sales to at least remain the same or increase in 2022.
Current trouble spots and economic risks cause concern
The SMEs surveyed identify high energy and commodity prices, the availability of raw materials and access to skilled workers and staff as the greatest economic risks for the next twelve months. The good economic situation of SMEs and the positive outlook cannot hide the fact that the current trouble spots and the associated economic risks are a cause for concern. Bilateral relations with the EU, the pandemic and also financial policy issues such as the SNB's interest rate policy or the volatility of exchange rates, on the other hand, have become less important as economic risks for SMEs.
Sustainability continues to gain momentum
Sustainability and in particular sustainable supply chains are becoming important success factors for SMEs. Three quarters of SMEs see sustainability as an integral part of their corporate strategy. In addition, half of the companies surveyed see the topic of sustainability as an opportunity and only 17% as a challenge.
Almost half of the survey participants state that in the future they will invest 2% to more than 10% of sales annually in the social and environmental compatibility of supply chains and products. The top priority is CO2 reduction. Only 15% intend to invest nothing at all.
About the study
The SME Survey provides an annual assessment of the situation of Swiss SMEs. 565 representatives of Swiss SMEs took part in this year's survey, which was conducted between the end of May and the end of June 2022.