According to the latest measurement of the SMEE of IAE Business School, the business climate has begun to change, as well as the business model that is outlined for the coming months.
70% of the participating companies report an improvement in their performance with respect to the first semester of 2024, while 74% are optimistic about the country’s economic future. In addition, 65% of SMEs expect an even more favorable panorama in the next six months. Inflation has ceased to be its main concern – a constant since the survey is conducted – and has been replaced by high tax pressure, which now occupies the first place.
In recent years, inflation functioned as a grown mountain river: it covered everything in its path and made it difficult to visibility errors and inefficiencies. Companies, to a large extent, did not give so importance to operating costs, the improvement of productivity or efficiency, since inflation adjusted the numbers. The price increase diluted bad practices and companies took refuge in non -monetary assets, such as stock or durable goods. There were even companies that limited their sales or closed temporarily to preserve their inventories. The financial sector, with high rates, became a profitable shelter. Fortunately, this inflationary cycle seems to be coming to an end, which will bring new challenges.
Another outstanding data of the survey is that most SMEs (75%) do not plan to reduce its collaborators template and even 65% expect to increase the number of employees. In addition, 60% of SMEs anticipate important investments during this year.
Although optimism prevails, the new macroeconomic situation will entail challenges for SMEs in different aspects:
In summary, SMEs must adapt to a more stable economy, but, in turn, more challenging. Operational efficiency, innovation and talent attraction will be decisive to face new challenges and maintain competitiveness in this emerging context.