Export demand to revive SMEs in Q2: Survey

New Delhi, May 4 (KNN) Small and Medium enterprises (SMEs) are anticipating an increase in export demand which will improve its performance in the second quarter of 2022.

According to a joint survey by ASSOCHAM-Dun & Bradstreet Small Business Confidence Index (SBCI) the improvement will be mostly seen in areas including sales, capacity utilisation and hiring.

The index, which measures the level of optimism of small and medium businesses on key business parameters such as sales, employment, prices, inventory and investment, stood at 87 in the second quarter of 2022. 

Reflecting on the findings, ASSOCHAM Secretary General Deepak Sood said, “Our survey amongst the SMEs' executives clearly points towards significant contributions from the small businesses.”

He highlighted the confidence shown by the small businesses to add to their workforce.

The percentage of the SMEs expecting an increase in their net sales and new export orders stood at 77 and 86, respectively, suggesting export-led demand growth in Q2 2022, said the report.  (KNN Bureau)