UK SMEs face Europe's sharpest cost pressures but stand out for regulatory preparedness, Wolters Kluwer research finds
WOLTERS KLUWER S/ADR (WTKWY)
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Source: Business Wire
Despite economic pressure, UK SMEs are taking a pragmatic approach to digitalization, with AI moving into everyday use, growing cybersecurity investment, and reliance on trusted advisorsMore than half of SMEs (56%) say rising costs are their top challenge, highest in EuropeAlmost half (44%) are fully prepared for regulatory change, ahead of European peersAround two thirds (65%) of SMEs now use AI tools weekly or daily, showing AI has moved into everyday use75% of UK SMEs outsource at least one business function under cost pressure84% of UK SMEs report very high loyalty to their service providers LONDON--(BUSINESS WIRE)--Wolters Kluwer Tax & Accounting today announced findings from its inaugural Future Ready Business report, revealing that UK small and medium-sized enterprises (SMEs) are facing the most intense economic pressure in Europe, yet continue to demonstrate strong confidence in their ability to manage regulatory change. The findings also show UK SMEs investing selectively
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