Two SMEs out of three optimists in the medium term

news-single-imgcaption" style="width:240px;">More than half of SMEs say their economic prospects are “good to very good” for the next three years (Keystone).

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Two thirds of Swiss small and medium-sized enterprises (SMEs) believe that the Covid-19 crisis should not affect their business beyond a year. More than half even say that their economic prospects are “good to very good” for the next three years according to a Raiffeisen study published Thursday.

If the majority of SMEs questioned say they have been “strongly” or “very strongly” impacted by the coronavirus pandemic, they remain optimistic in the medium term.

It is especially the prospect of a public debt crisis in Europe that worries: 60% of participants believe that it constitutes their greatest risk in the next twelve months.

Priority over relations with the EU

According to those polled, the Federal Council should put priority on relations with the European Union (EU), the reduction of bureaucratic formalities and the volatility of exchange rates.

“The results of the survey show once again how innovative Swiss entrepreneurs are,” said Urs Gauch, business customer manager at Raiffeisen.

“For this to remain the case and for exporting SMEs to be prepared against future global crises, I advise them to reduce the risks as much as possible”, he continues, citing the hedging against exchange rate fluctuations or risks to the export. And to warn: “not to cover oneself is to indulge in speculation”.

More than a third (36%) of those surveyed fear the volatility of exchange rates. Internationalization and export remain key success factors for Swiss entrepreneurs. Despite the global crisis, 60% of respondents say that internationalization has gained importance for their activities in the past two years.

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