Key points
SME revenue and recruitment both solid in 2019 : SMEs’ revenue growth is holding steady in 2019 compared with 2018, despite a slight slowdown in their order books. Recruitment at SMEs is reportedly accelerating overall in 2019, particularly at the smaller end of the spectrum and for those focused on domestic markets.
The general vitality of SMEs focused on domestic markets offsets the decrease seen in the Industry sector and in exporter SMEs : Turnover and recruitment appear to have slowed in Industry SMEs and exporters, which seem to be suffering from increased trade tension and political uncertainty on the international stage.
Capital expenditure remains buoyant thanks to SMEs decent financial health and highly favourable financing conditions. Driven by very favourable credit access conditions, capital expenditure remained buoyant in 2019. SMEs’ cash flow situation improved further, as did their access to credit, with 90% of them experiencing no difficulties in financing their capital expenditure.
The outlook for 2020 is generally favourable, driven by a domestic market that is expected to remain buoyant. The outlooks for revenue and employment are both sound, despite an expected slowdown in recruitment. SMEs in Industry, and more particularly exporters, continue to review their forecasts.
Key figures
+25 : balance of opinion on the expected trend in turnover in 2019 stable over one year ;
90% : share of SMEs that experienced no difficulties in financing their capital expenditure up 1 point over one year ;
-11 : change in one year in the balance of opinion on expected change in turnover at exporter SMEs in 2019 ;
+24 : balance of opinion on the expected trend in SME turnover in 2020 stable over one year
Contents of the survey
- REVENUE AND EMPLOYMENT
- FINANCIAL SITUATION, ACCESS TO CREDIT AND CAPITAL EXPENDITURE
- OUTLOOK FOR 2020
- BY WAY OF CONCLUSION
- METHODOLOGY
