3 Azets SME Barometer Report Summer 2021 Foreword by Chris Horne Azets Group CEO I am pleased to introduce our first Azets SME Barometer - a report detailing the shape of the current and future business climate, from the perspective of the small and medium-sized enterprises that are on the front lines. Smes account for 99% of businesses across Europe and are the beating heart of the economy. Azets plays a massive part in improving the businesses and lives of our clients and it’s time to raise the voice ofthe sme so that their needs are truly heard and addressed. This first sme barometer was conducted against an unusual backdrop. After a year of deep crisis and upheaval; with the vaccination programme accelerating across Europe and lockdown restrictions beginning to ease, the prospects of an economic recovery feels within our grasp. At the same time, plenty of uncertainty remains, not least in view of the spread of the delta variant. We interacted with over 700 SME business leaders (with a business turnover up to £50m to €60m) across our Nordic and uk client base and this outlined a stubborn optimism about the prospects of recovery, coupled with a pragmatic awareness of the need to adapt to the ‘new normal’ post-covid. Our clients will need our help with the move to a post Covid world. The biggest opportunity and biggestthreat for smes is adapting their postCovid business model using technologyand flexible working. The ‘new normal’ forall businesses will involve keeping much of the aspect of the Covid changes even asthe threat of the pandemic weakens.Those who get this transition right will be in a better position to survive and thrive. Given the importance of ensuring that the sme sector continues to adapt and prosper as the economy recovers, these findings point to areas where further government policies and expert guidance are vital in delivering the support businesses and society need post Covid and post-Brexit. Clearly, there is work to be done to support our clients, as they kick start our economy. With thanks to all our sme leaders and participants, we hope this has been informative and look forward to workingever more closely with our clients to help improve their lives. 760 760 leaders of small andmedium businesses acrossthe Nordics and UK outlined a stubborn optimism about the prospects of recovery 99% of businesses in Europe areSMEs and are the beating heartof the economy Chris Horne Azets Group CEO Contents Contents Contents Contents download report download report Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets