Supply Chain and Stock Availability Identified as Key Challenges

  • 68% of SMEs are feeling more positive about their business growth opportunities compared to last year
  • 47% of UK SMEs cited inflationary pressures as their biggest challenge
  • 35% of respondents said supply chain and stock availability was the biggest challenge
  • 69% said finding new suppliers was a priority in 2024
  • 64% agreed that building trust with new suppliers is one of their business’ greatest challenges

According to Alibaba.com’s B2B Sentiment Survey, 68% of SMEs are feeling more positive about their business growth opportunities compared to last year. Of this 68%, 19% described their outlook as ‘significantly more positive’. However, inflationary pressures were cited as the biggest challenge by 47% of UK SME decision-makers surveyed. Marketing and customer acquisition were highlighted by 37% of respondents. Supply chain and stock availability were identified as the biggest challenge by 35% of respondents, while 69% said finding new suppliers was a priority in 2024. Building trust with new suppliers was considered one of the greatest challenges by 64% of UK SMEs. Jijay Shen, general manager of Alibaba.com Europe, emphasized the importance of mitigating supply chain challenges and focusing on business growth.

Factuality Level: 8
Factuality Justification: The article provides specific data from a survey conducted by Alibaba.com, including percentages of SMEs feeling positive about growth opportunities and the challenges they face. The information is presented in a clear and factual manner without digressions or sensationalism. The article includes direct quotes from a company representative, adding credibility to the information provided.
Noise Level: 3
Noise Justification: The article provides relevant information about the sentiment of small and medium-sized enterprises (SMEs) in the UK, highlighting their positive outlook on growth opportunities but also the challenges they face, such as inflationary pressures, marketing, customer acquisition, and supply chain issues. It includes data from a survey conducted by Alibaba.com and quotes from Jijay Shen, general manager of Alibaba.com Europe. The article stays on topic, supports its claims with survey data, and offers insights into the challenges and priorities of UK SMEs.
Financial Relevance: Yes
Financial Markets Impacted: No
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the business growth opportunities and challenges faced by small and medium-sized enterprises (SMEs). It does not mention any extreme events or their impact on financial markets or companies.

Reported publicly: www.retailsector.co.uk