- SMB leaders are concerned that they do not have time enough to focus on growth
- AI could hold the key but skill deficiency is still blocking for progress
- Many are preparing to invest more if the economy permits
We already know how important SMBs are for the global economy – for example, in the UK, these companies make up 99% of the business population – but many risk falling afterwards if they do not use AI, new reports have claimed.
Research from Amex says over a quarter (28%) of SME leaders are struggling to go away from daily tasks, and 24% agree that there are not enough hours a day to grow their business.
To tackle this, almost half (43%) of small businesses and 53% of medium -sized businesses are planning to adopt AI in the next 12 months, and 60% of SMEs expect stronger results in the last three months of 2025 compared to the last two years.
Are AI enough to save our SMBs?
Separate Barclays research revealed nine out of 10 (89%) British companies are planning to use AI within two years to help with data analysis, forecasts, customer experience and cost reduction.
Nearly three years after the public preview -launch of chatgpt (credited by popularizing AI tools), companies are still facing the same AI and Digital Skills deficiency -a concern that is even more pronounced among financial services, IT/telecommunications and the technology sector itself.
“AI is becoming an important tool for running innovation, encouraging investment and emerging to lift productivity,” noted Barclays UK Corporate Banking CEO Matt Hammerstein.
Barclays found that British companies are planning to invest in training (42%), digital products (37%) and F&U (37%) to support long -term growth, but the impending and delayed autumn budget holds many back in the short term.
Inflation (33%) and rising beneficial costs (22%) are seen as major barriers to business growth, with 39%having to adjust budgets as a result of energy costs and many others who invest in efficiency or renewable energy sources. Another in four (26%) has transferred the cost of customers.
Barclays Business Banking MD Abdul Qureshi noticed optimism: “Despite economic and energy challenges, British companies push on with AI and skill investments to unlock productivity and growth.”
