MMES set their priority

THE investment priority of over 70% of mid-market enterprises (MMES) over the next 12 months is to build enough cash flow to manage their capital effectively.

Besides that, they want to focus on setting aside investments for marketing products and services to enhance customer-experience.

The ability to attract investments and secure financing for their business and increasing domestic demand are the other two top drivers cited by the MMES.

These are the findings of HSBC’S business balancing act survey. It attracted 171 CEOS and CFOS across the country largely from the manufacturing, retail, digital and financial services sectors.

Divestment is not on the cards for them this year. Over 93% of respondents are optimistic about the prospects of growing their top line in 2023 despite the softening of the global economy. This is in line with the global average across 14 markets.

More than three quarters of the MMES want to enter into at least one foreign market in 2023, yet at the same time, over two-thirds are expecting international trade to be more difficult, with 43% citing the uncertain political environment and increasing tariffs as threats to business growth.

A total of 45% of respondents to the survey say they will expand to new digital platforms and channels, although 37% say that there are also concerns about a decrease in demand and spending from consumers.