Half Of German Smes Concerned About Sustainability: Study

10/5/2023 11:03:18 PM

(MENAFN- Famagusta Gazette) Over half of the managers of German small and medium-sized companies (SMEs) are skeptical about the future and predominantly concerned about over-regulation, the lack of skilled workers and rising energy costs, a study published on Thursday showed.

Up to 51 percent of the 520 managers of medium-sized companies are skeptical about the sustainability of their business, according to a survey conducted by Metafinanz, a business and information technology consulting company based in Frankfurt.

On top of bureaucracy and the lack of skilled workers, the managers surveyed also believe that rising energy costs, outdated leadership and company culture, technology skepticism and other issues are obstacles and challenges to the future of their business.

Almost half of the respondents think that the energy and environmental sectors will outperform other sectors in the future, while the construction and media industries will turn out to be among the worst performers.

According to the German Federal Statistical Office (Destatis), over 99 percent of all companies in the country are SMEs. They account for over half of Germany's employment opportunities and contribute 43 percent of gross value added at factor cost, Destatis said. ■

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Famagusta Gazette

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