Selling successfully in times of economic uncertainty: a guide for SMEs

[mouakter14]

In a recent survey, CEOs put the likelihood that their company will be affected by macroeconomic volatility over the next 12 months at 24 percent. They also believe there is a 24 percent probability that inflation will pose a significant threat to their company over that period.

Companies have been fearing an economic downturn for several years now: from the pandemic to supply chain problems to geopolitical conflicts, several factors are fueling a sense of uncertainty and an uncertain economic climate.

Economic uncertainty affects all types of businesses, but it is particularly korea telegram mobile phone number list hard on smaller ones. In this article, we look at the impact of difficult economic times on SMEs and how you can deal with them.

The impact of economic uncertainty on SMEs
When the global economy is in a downturn, inflation and interest rates rise, which in turn reduces purchasing power. In other words, most companies experience a decline in sales during times like these, which can lead to cash flow problems.

In addition, investors are reducing their support to a minimum. For example, global venture capital funding fell to 344 billion US dollars in 2023 - the lowest level since 2019. This makes it even more difficult for small and medium-sized companies to stay afloat.

Economic uncertainty also brings other complications, such as supply chain disruptions and changing regulations. Given that most SMEs already have limited financial resources, it is becoming increasingly difficult for them to respond to changing customer needs and increase their sales.

Tips for dealing with economic uncertainty and sales challenges


Global economic fluctuations don't have to be a death sentence for your business. There are ways to expand your customer base and generate new revenue even in times of economic downturn.

Here are some strategies to help you take your first steps.