Small and midsize businesses (SMBs) with 100 – 1,000 employees account for 70% of global employment according to ILO data. The OECD suggests that in high income countries they contribute between 50-60% of GDP. These businesses are crucial for economic growth and for an essential part of the global economy. Furthermore, a recent report by the World Economic Forum makes the case that global sustainability efforts will require SMBs to transform significantly in order for world targets to be achieved. These factors combined stake huge importance on ensuring that SMBs are able to thrive. 

The characteristics, requirements and challenges of individual SMBs varies significantly depending on region, size, industry and a range of other factors, thus making it hard to identify universal challenges or solutions. In some cases these businesses are able to operate in a more agile fashion when faced with unexpected pressures such as inflation, geopolitical tensions and changing consumer spending patterns. However, they can also find themselves more exposed. Research suggests that for many SMBs finding and retaining talent is one of the biggest challenges, along with access to capital, supply chain disruptions and less resilient revenue streams. Technology like AI and machine learning are among many solutions to these issues being explored by leaders. 

This webinar – hosted by the Financial Times in partnership with SAP Concur – explores what kind of unique challenges are being faced by SMBs in North America and Europe depending on sector, location and size. Leaders discuss solutions to these challenges including through the use of technology such as AI, with a view to the contribution these businesses make towards global economic growth and sustainability efforts.

Understand

the biggest challenges faced by SMBs, such as economic pressures and talent retention

Connect

with senior thought leaders from SMBs across a variety of sectors and industries 

Discover

strategies for including sustainability and AI and machine learning in your organisation

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