Small and medium-sized enterprises across the UK are showing remarkable resilience, with many leaders feeling ready to tackle future hurdles head-on. Recent research reveals that a majority of SME heads not only trust their businesses to weather storms but also feel confident bouncing back from setbacks quickly.
According to American Express’ latest Business Barometer, carried out alongside Small Business Saturday UK, nearly seven in ten SME decision makers believe their companies are well-prepared to face unexpected challenges. This upbeat attitude comes after years of adapting to economic twists and external pressures that have forced businesses to rethink their strategies.
The survey, which sampled 1,000 senior leaders from micro, small, and medium-sized UK firms, sheds light on how resilience isn’t just about surviving but thriving through smarter leadership and investment, especially in technology.
SMEs Say Resilience Is More Than Just a Buzzword
It’s no surprise that resilience is on everyone’s lips these days. But what’s really interesting is how deeply SME leaders feel equipped to manage crises. About 68% of respondents said their business is sturdy enough to withstand tough times, while 69% feel confident they can recover fast when things go wrong.
These figures highlight a shift from mere survival mode to active preparation and growth. Leaders believe that their businesses have toughened up thanks to hard lessons learned from the past few years. Many have embraced change, often the hard way, but now they’re seeing the payoffs.
One standout stat? Over 70% of SME leaders say they feel personally resilient too — ready to tackle the daily grind and unexpected shocks that come with running a business. This personal strength is key to guiding companies through rough patches.
Learning from the Past: The Secret to Building Strength
SME resilience isn’t just about having a great product or service. It’s about leadership grit and the ability to learn from experience. Nearly three-quarters (74%) of respondents credit their resilience to actively seeking feedback and reflecting on how they handled previous problems.
This willingness to self-check and adapt shows a maturity in leadership styles. Instead of being stubborn or stuck, these leaders are open to new ideas and ready to course-correct when needed. This approach helps them stay ahead and spot potential issues before they become disasters.
Technology: The New Backbone of Business Stability
One of the biggest takeaways from the research is the increasing role of technology in building resilience. SMEs are investing more in tools and systems designed to future-proof their operations.
Here’s how it breaks down:
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52% of micro businesses (1-9 employees) are already putting money into tech aimed at making their companies more resilient.
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That number jumps sharply to 80% for medium-sized businesses (50-249 employees), who see technology as a critical factor for survival and growth.
Many firms are focusing on technologies that streamline processes and boost efficiency. Around 23% of SMEs plan to invest in automation and process improvements, hoping to cut costs and save time. Another 23% are adopting new payment methods like mobile or QR payments to keep up with customer demands and increase sales flexibility.
This isn’t just about flashy gadgets. For many SMEs, technology represents a safety net and a growth engine all at once. It helps businesses weather shocks and keeps them competitive in an ever-shifting market.
Cost Control and Marketing: The Other Pillars of Resilience
While technology grabs the headlines, SME leaders are also doubling down on traditional business tactics to stay afloat. Cost management remains crucial as inflationary pressures and supply chain disruptions continue to pinch margins.
Marketing efforts have also stepped up. Boosting visibility and reaching new customers is part of the playbook, ensuring that businesses don’t just survive but thrive. Many SMEs understand that resilience involves juggling multiple priorities—from the books to the brand.
The Road Ahead: Confidence With a Dose of Caution
Even with this optimism, the business world remains unpredictable. Leaders know they can’t afford to get complacent. But their positive mindset, paired with smart investments and hard-earned experience, makes for a compelling mix.
The American Express Business Barometer paints a picture of SMEs ready to face whatever comes next, armed with lessons from the past and tools for the future. It’s a refreshing story in times when uncertainty seems like the norm.
