Amex: UK SMEs Turn to Fintech Solutions Amid Resilience Push
Two-thirds of UK small and medium enterprises report their businesses are resilient and prepared to withstand market challenges, according to new research from American Express conducted in partnership with Small Business Saturday UK.
The annual Business Barometer study, which surveyed 1,000 senior decision makers at UK micro, small and medium sized businesses, found 68% of SME leaders believe their operations can weather external pressures.
A similar proportion, 69%, express confidence in their ability to recover from setbacks.
The findings suggest SMEs have adapted to economic pressures in recent years and are now directing investment towards technology solutions to strengthen their operational foundations.
The research indicates businesses are prioritising technology adoption as part of broader resilience strategies that also include cost management and marketing investment.
Technology investment scales with business size
Investment patterns vary significantly across business sizes, with micro businesses (1-9 employees) showing more conservative adoption rates compared to their larger counterparts.
Just over half of micro businesses, 52%, are investing in technology to enhance resilience, whilst this figure rises to 80% among medium-sized businesses with 50-249 employees.
Payment technology emerges as a key focus area, with 23% of SMEs planning to introduce new payment channels including mobile and QR payment systems.
These contactless payment solutions enable businesses to serve customers more efficiently while reducing transaction friction.
Process automation represents another priority, with 23% of respondents planning technology investments to drive operational efficiency. Such systems typically reduce manual workload whilst improving accuracy in business processes.
AI adoption gains momentum across SME sector
Artificial intelligence technologies are becoming central to SME strategy, with 49% of surveyed businesses either having integrated or planning to expand their use of generative AI or machine learning capabilities.
Generative AI refers to systems that create new content, whilst machine learning involves algorithms that analyse data to make predictions or identify patterns.
For SMEs implementing these technologies, the primary applications focus on customer service enhancement through CRM systems and virtual assistants, alongside marketing support including targeted communications and content creation.
The adoption of AI tools reflects a broader shift towards data-driven decision making in smaller businesses, historically a practice more common among larger enterprises with dedicated technology teams.
Revenue growth expectations remain strong
The resilience sentiment translates into business confidence, with 73% of SME leaders expressing optimism about their company's future prospects. This represents a four percentage point increase from the previous year's survey results.
Growth expectations align with this confidence, as 71% anticipate business expansion over the next 12 months. These revenue forecasts suggest SMEs are moving beyond survival mode into active growth planning despite ongoing macroeconomic uncertainties.
Leadership resilience also features prominently in the research, with 71% of respondents believing they possess the skills to handle operational challenges. Three-quarters of leaders attribute their resilience to feedback-seeking behaviour and learning from past experiences.
Ruchi Sharma, Vice President UK Commercial at American Express, says business owners have required greater agility and determination than previously experienced.
“It's encouraging to see in our latest Business Barometer how the SME community believe this is translating into more resilient businesses and stronger leaders,” Ruchi states.
The American Express executive notes the company's commitment to supporting these businesses through products, services and insights designed to enable future growth.
Michelle Ovens, Director of Small Business Saturday UK, acknowledges the ongoing macroeconomic challenges facing small businesses whilst noting the positive confidence levels.
“Despite this backdrop, many are still confident in their ability to target growth and respond to setbacks,” Michelle says.
"We need to rally around the UK's 5.45 million small businesses to make sure they have as much support as possible.”
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