The two years from the fourth quarter of 2011 marked a period of continued economic turbulence, with slowing economic growth in Asia’s major economies, the slow resolution of the Eurozone crisis and renewed hope that continued signs of economic recovery in the US are signalling a global trend for a more sustainable global economic upturn. This period began with fears of a double dip in the West and a hard landing in the East – and ends with hopes of a second, more resilient global recovery.
To gain better understanding of how small and medium-sized businesses (SMEs) are experiencing this crucial period of change and recovery, ACCA and IMA commissioned a special analysis of the SME responses received through the quarterly ACCA–IMA Global Economic Conditions Surveys.
This report provides a unique SME insight, shedding light on how SMEs were surviving and thriving during this latest period of global economic developments and drawing lessons for the future.
Reports from finance professionals in SMEs around the world suggest a recovery is finally under way, but financing and liquidity constraints, political uncertainty, and short-sighted responses to economic conditions could hold the sector back.