SME study by swiss export shows confidence with a question mark
The eighth edition of the SME SME Study 2025 by Kearney, swiss export, the Swiss Institute for Global Affairs and Endress+Hauser examined the current situation and prospects of SMEs in Switzerland. The focus was on the impact of global macroeconomic and political tensions on Swiss SMEs and the strategies they are using to respond to them.
The results of the study show that Swiss SMEs are generally confident, but the mood is noticeably more subdued than in the previous year. After years of global crises, foreign trade uncertainty - particularly tariffs and the relationship with the EU - is now at the center of economic concerns. Only 52 % still rate their future economic situation positively (-16 points compared to 2024). Export-oriented companies with complex supply chains are particularly reluctant to invest. Medium-sized and large companies are more skeptical about the future, while domestic market-oriented companies are benefiting from stable demand. Sector differences are striking: the construction sector is the most robust with 80 % positive expectations, while service and trading companies are more cautious.
Risk landscape shaped by customs policy
Customs policy and unclear EU relations will shape the risk landscape in 2025. Over 70 % of SMEs cite foreign policy as the biggest economic risk, while 48 % each fear a negative impact from protectionism and EU uncertainties. The US additional tariff of 39 % on Swiss exports is significantly increasing competitive pressure. Export-intensive sectors such as mechanical engineering, precision goods, electronics/ICT and watchmaking are particularly affected. 27 % of companies are experiencing a drop in sales, while 20 % are seeing rising purchase prices. At the same time, the importance of energy and skilled labor issues is declining, while geopolitical and regulatory factors are dominating.
Companies are responding with resilience strategies: 74 % rate their crisis resilience highly. Diversification, building partnerships, process optimization and digitalization are mentioned. Innovation is perceived ambivalently - for 56 %, it is a driver despite uncertainties, particularly in the area of process and data quality. Artificial intelligence and climate change are seen by the majority as opportunities, while cyber attacks and trade disputes represent the greatest threats.
More stable foreign trade conditions required
In political terms, 86 % of SMEs are calling for clearer and more stable foreign trade conditions, while 81 % are calling for stronger representation of international interests. The most important political tasks are the stabilization of relations with the EU (over 60 %) and the conclusion of new free trade agreements (44 %, +34 points compared to the previous year). Reducing bureaucracy and promoting business locations remain key concerns, while the shortage of skilled workers and the energy transition are becoming less important.
Overall, the study paints a picture of cautious optimism: Swiss SMEs remain resilient, but are increasingly struggling with geopolitical uncertainties and growing pressure on margins. Stable political framework conditions and close integration into international markets, particularly the EU, are seen as key factors for the future viability of Swiss SMEs.
Source: swiss export
