Barry O'Byrne also said that: "Our study shows that they are also looking to expand into new markets, improve sustainability and launch new products. New technology and access to finance are expected to be the twin-engines of growth for businesses in the short and long-term."
Investing to grow
The study, which surveyed businesses in Australia, Mexico, Singapore, UAE, UK, US, mainland China, Hong Kong SAR, India and Germany, among others, also found that 40% of MMEs are seeking external investment to support their growth. This increases to 51% for businesses in Asia Pacific, compared to 30% in the Americas and 29% in Europe.
When asked how business leaders would prioritise investment for the next 12 months, customer experience (54%), cash flow and capital management (51%), and employee well-being (50%) top the list. These investment plans, however, are balanced by 56% of MMEs looking at how they can cut costs next year.