March 24, 2022 INSIDER • GOAL • IN-CYPRUS • PROPERTY • CYPRUS-IS • KARIERA LIKE • GOING OUT • XRYSES SYNTAGES • ACTIVE • PHILGROUP ΕΙΔΗΣΕΙΣ & nbsp; SOCIETY & nbsp; INSIDER & nbsp; OPINIONS & nbsp; GOING OUT & nbsp; CULTURE & nbsp; SPORTS & nbsp; AUTO & nbsp; GOOD LIFE & nbsp; USEFUL & nbsp; PRINTED EDITION & nbsp;
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According to the results of a pan-European survey conducted by SMEunited and presented on 15 March in Brussels, the business climate index shows that the recovery of small and medium-sized enterprises (SMEs) has reached a dead end. The results of the second half of 2021 lag significantly behind expectations while there is uncertainty in the forecasts for 2022 which should be noted that were made before the crisis in Ukraine.
The business climate of SMEs is rated at 75.2%, slightly lower by 0.9% compared to the previous half.
SMEunited is the European Small and Medium Enterprises Association with 65 member organizations from more than 30 European countries. The Union represents national cross-sectoral SME federations, European SME sectoral organizations and associated members. In total, it represents more than 22.5 million companies with around 82 million employees across Europe. It is one of the social partners of the European Commission. The CCCI is a full member of the Union representing the Cypriot small and medium enterprises.
The results of the research indicate that the discouraging economic conditions, such as the spread of new mutations of Covid-19 disease, energy prices and disorders supply chain, are the main reasons for weaker business
confidence. SMEs in the service sector were particularly affected by the new restrictions on COVID-19 in the autumn of 2021.
The results lag far behind expectations, especially in terms of turnover and investment. In addition, it is noted that the investigation was conducted before the invasion of Ukraine began, and the real situation for the current semester may be even worse than expected.
Regarding the results for Cyprus where the survey was conducted by the CCCI on behalf of SMEunited, only 29% of SMEs remain generally optimistic about 2022. In particular, in terms of sales 24%, employment 21%, investments in 23%, orders 28%. Also 68% expect price increases. The best forecasts come from the services sector, but it is emphasized again that these were made before the outbreak of the Ukrainian crisis.
Indeed, even before the war, the outlook showed a high level of uncertainty about future developments. pandemic pressures and potential supply and supply chain problems.
SMEunited therefore recommends that national and European policies focus on mitigating energy and product markets so that SMEs can overcome the high uncertainty caused by the Ukraine war and the ongoing COVID-19 crisis. This is a precondition for investment and reform aimed at stimulating the green and digital transition.