An Economist Intelligence Unit survey sponsored by SAP AG shows that small and midsize enterprises (SMEs) in emerging countries are expanding and flourishing financially while their counterparts in the developed markets - despite more difficult market conditions - are confident of an economic upswing in the near future.
According to the survey, finding and keeping new customers, attracting talent and operating efficiently stood out as top challenges worldwide. In the emerging markets companies see effective use of technology as a key priority in achieving growth.
“We believe that especially in today’s economic climate, entrepreneurs and small to midsize businesses make up the backbone of the economy - they have the ability to drive innovation, job creation and economic stability,” said Priyadarshi Mohapatra, Vice President - merging Business, SAP India.
Asked about their top business priorities for the next 12 months, respondents in developed and emerging markets appear to share broadly similar goals: growing sales and earnings. Fifty-three percent of those in developed markets and 55 percent of those in emerging economies cite growth as a top business priority. In India, the figure is 76 percent and in the UK, 71 percent. The lowest showings are in France, at 25 percent, and Russia, 35 percent.
