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21 JUL 2021  |  ISSUE 358

Dear Members and Friends

It is a pleasure to bring you a message from your fellow member QBE Insurance: something for all businesses to think about especially SMEs.

Have a great week ahead.

Best regards
Victor Mills
Chief Executive

COVID-19 continues to have a profound impact on businesses everywhere and especially on SMEs.

The key messages from a QBE Insurance survey of local SMEs are:-
• 62 per cent of SMEs expect the economic climate to either stay the same or improve in the next 12 months.
• However, 81 per cent do not expect their business to grow in 2021.
• Half of the SMEs will look to the government for support to cope of which 70 per cent indicated financial assistance is the most necessary form of relief.
• 91 per cent shared they are currently engaged in, or intend to invest in, digital technologies but 40 per cent cited high costs of investment as a barrier.

These sentiments and concerns indicate some of the challenges SMEs are managing. Prudence suggests they should not neglect thinking about specialised business insurance and protection.

Read more here.
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