Businesses urged not to let immediate financial pressures distract from emerging risks
While artificial intelligence and cyber-attacks continue to dominate business headlines, new research suggests Britain’s small and medium-sized businesses remain most concerned about a far more immediate challenge: economic uncertainty.
A survey conducted by insurance experts Everywhen found that 38% of respondents believe economic uncertainty will have the biggest impact on SMEs over the next 12 months, ahead of rising costs (31%), AI and new technology (24%) and cyber security (7%).
These findings paint a bleak picture of a business community focused on navigating an unpredictable trading environment, with inflationary pressures, changing consumer demands and wider economic volatility continuing to shape decision-making.
Everywhen’s business insurance experts say that while these concerns are understandable, businesses should be careful not to allow short-term financial pressures to push longer-term risks down the agenda.
A spokesperson for Everywhen, said: “It is perhaps no surprise that economic uncertainty remains front of mind for SMEs. Business owners have spent several years adapting to rapidly changing market conditions, rising operating costs and ongoing financial pressures, so resilience continues to be a major priority.
“What’s interesting, however, is that issues such as cyber security and new technology rank significantly lower. While economic pressures are the challenges businesses feel every day, cyber threats and the rapid pace of technological change haven’t disappeared. In many ways, they’ve become even more important because businesses are increasingly relying on digital systems to improve efficiency and remain competitive.
“The challenge for SMEs is balancing today’s priorities with tomorrow’s risks. Businesses that continue investing in resilience, protecting their operations and reviewing their insurance arrangements will be better placed to navigate, whatever the next year brings.”
These findings reflect the balancing act facing many SMEs as they continue to invest in growth while managing ongoing uncertainty. Although AI is increasingly transforming how businesses operate, and cyber-attacks continue to target organisations of every size, many business owners remain focused on the economic conditions affecting cash flow, investment and customer confidence.
According to Everywhen, periods of uncertainty often highlight the importance of reviewing business continuity plans, insurance cover and risk management strategies to ensure firms remain resilient as trading conditions continue to evolve.
