Small businesses are increasingly valuing predictability and stability over rapid growth, according to Mastercard’s Dreamonomics report, which surveyed over 6,000 small and medium-sized enterprises (SMEs) across 18 countries. Key findings include:
- Stability vs. Growth: 68% of SMEs prioritize stability, and 54% actively avoid unnecessary financial risks.
- Customer Relationships: 61% prefer forming deep customer relationships rather than maximizing their customer base.
- Technology Needs: On average, SMEs use five digital tools for operations, with 89% wanting more, but 78% stress the importance of integration.
The financial landscape for SMEs is described as fragmented, primarily relying on banks and specialized software. Mark Barnett, Mastercard’s head of small enterprises, emphasizes a growing demand for comprehensive solutions that streamline financial functions within existing business software. He highlights that geographic differences can greatly affect payment preferences and methods.
Overall, while SMEs share a common desire for stability and efficiency, the products and solutions must adapt to their specific needs and local market dynamics.
