Macroeconomic Challenges and the SMB: What Tech Suppliers Need to Know, 2024
This IDC Market Perspective highlights SMBs' vulnerability to economic shifts and suggests strategies technology suppliers can offer to help SMBs build resilience, such as flexible technology solutions, leveraging automation, and diversifying supply chains. It underscores the need for tech suppliers to support SMBs in navigating these economic pressures and for tech buyers to proactively integrate risk management into their operations. Small and medium-sized businesses (SMBs) face significant macroeconomic challenges, including rising energy prices, inflation, supply chain disruptions, and labor costs. These factors strain their operations, erode profit margins, and complicate technology investments. "SMBs are the backbone of global economies, yet they face unprecedented challenges from rising energy costs, inflation, and supply chain disruptions," says Elisabeth Clemmons, research analyst, Digital Economy Strategies.
Executive Snapshot
New Market Developments and Dynamics
Introduction
An Overview of the Impact of Macroeconomic Events on SMBs
Key Macro Topics for SMBs
Rising Energy Prices
Inflation and Price Increases
Rising Costs of Technology (Hardware and Software)
Supply Chain Disruptions
Labor Costs and Shortages
Exchange Rate Fluctuations
Interest Rates
Other Factors
The Effects of Macro Events on SMBs: A Look into Insolvencies
Advice for the Technology Supplier
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Related Research
Synopsis
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