According to American Express' latest Business Barometer research, a significant majority of SME leaders in the UK feel their businesses are resilient and well-prepared to face challenges, with many also confident in their recovery abilities. This resilience is attributed to their adaptation to external pressures and a willingness to invest in technology, particularly AI, to enhance operational efficiency. The survey, involving 1,000 decision-makers, highlights a trend towards utilizing technology and seeking feedback to build resilience, with varying investment levels across business sizes, especially among medium-sized enterprises.
Over two-thirds (68%) of SME leaders believe their business is resilient and prepared to withstand challenges, while 69% are confident in quick recovery from setbacks.
The research suggests that SMEs are turning to technology as one of several strategies to bolster resilience and drive long-term success.
Three-quarters (74%) say seeking feedback and learning from past challenges has been key to building their resilience.
Nearly a quarter (23%) of SMEs plan to invest in technology for process efficiency, with a similar percentage introducing new payment channels.
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