Zurich SMEs take a positive view of the future

The pressure on small and medium-sized enterprises (SMEs) is high in view of complex framework conditions. The Corona pandemic has increased this even further. So how are SMEs in the canton of Zurich doing? This question is answered by the newly launched KMU ZH Monitor of Zürcher Kantonalbank. Behind it is a survey in which 323 companies participated this year. In the future, the KMU ZH Monitor will be published annually in the fourth quarter.

Zurich SMEs are doing well

"The SMEs surveyed are doing well," says Patrick Sulser, Head of Corporate Finance at Zürcher Kantonalbank, summarizing the first survey. "Many have successfully mastered the Corona crisis and are now cautiously optimistic about the future. An impressive achievement that once again demonstrates the adaptability of Zurich's SMEs." This is also shown by the seven key values defined for the survey (see chart). The clear majority are in the positive range. Only the two parameters past business development and future business development are assessed as neutral. "The reason for this is probably the past, economically very difficult months and the continuing uncertainty of the epidemiological development," explains Patrick Sulser.

In terms of business development to date, the assessment of the number of employees is particularly striking. Just under half of the companies consider the number of employees to be adequate. However, a good third consider the number of employees to be low. This is particularly the case for micro-enterprises with fewer than ten employees.

In the area of future business development, sales expectations differ significantly depending on the sector: those in industry are the most optimistic. More than half (55%) expect higher sales. In the other sectors (agriculture, trade, business services, social services), 42% to 48% of entrepreneurs expect higher sales. The catering/hotel industry is less confident. Only 25% of the companies expect higher sales, just under 60% unchanged and a good 15% slightly or clearly worse sales. Most pessimistic is the construction/architecture sector, where 23% of respondents expect sales to fall.

Challenges: Skills shortages, supply bottlenecks and competition

The 323 entrepreneurs were also asked about the most important challenges at present: the lack of trained specialists is mentioned most frequently by just under half of the entrepreneurs (47%), with microenterprises being less affected by this. This shortage is most pronounced in the construction/architecture industry group (70%). Supply shortages of raw materials and semi-finished products also pose a challenge for one in three companies. Not unexpectedly, this most frequently affects trade (67%) and industry (62%). Finally, competition from domestic and foreign competitors is one of the most frequently cited challenges. Around 30% of the companies surveyed face this. The larger, the more intense.

Potential in the further development of the companies

The survey also includes topics in which SME representatives hope for further impetus and thus see added value for their company. Just under half of the survey participants (46%) would like to further increase their attractiveness as an employer in the coming year. Of equal interest (45%) are ideas that will position the company even better with its own customers. Close behind the two top performers is the topic of innovation (37%). This is one of the five most frequently mentioned topics across all sectors.

The survey of Zurich SMEs is intended to provide a further basis for Zürcher Kantonalbank to work on the most frequently mentioned topics in greater depth in the coming months together with other experts. As part of the KMU ZH initiative, ZKB will continue to expand its offering for Zurich SMEs in the future and increasingly offer free workshops, webcasts and further in-depth information.

More information: zkb.ch/kmu-zh