Survey: Swiss SMEs Exporters rely on innovative business models
The strong franc and increasing competition are a burden on small and medium-sized Swiss SMEs. The realization that an innovative business model is of great importance for successful internationalization has become widespread. 70 percent of SMEs are concerned with this issue. This is shown by the latest survey of over 150 exporting SMEs conducted by Switzerland Global Enterprise (S-GE).
The strong franc continues to weigh heavily on Swiss SME exporters. At the same time, new technologies and competitors such as Uber or AirBnB are turning the situation upside down in many target markets. 85 percent of respondents feel greater competitive pressure today than five to ten years ago. 79 percent believe that their business model will no longer function as it does today in the coming years and are already addressing this challenge.
Becoming an innovation leader for business models
"Our companies are known worldwide for their quality products and services. But to survive in the global markets of the future, we need to go one step further and become innovation leaders for business models," comments Daniel Küng, CEO Switzerland Global Enterprise.
With clever ideas to export success
Many SMEs are already proving that innovative business models can be developed even with few resources. The four examples from Elite Beds SA, Ifolor AG, Berlinger AG and Berhalter AG in the S-GE survey demonstrate their approach. First and foremost, it is important to be creative and to think outside the box - for example, to adopt ideas from other industries.
The majority of those surveyed are not yet exploiting this potential. Only half of the SMEs work with targeted innovation partnerships and only about a third network with other companies within their own industry or beyond.
"The vast majority of SMEs are fully aware that they need to rethink their business model. Now they need to tackle this challenge even more consciously and think outside the box. Because the clever adaptation of the business model to each individual target market is the prerequisite for international competitiveness," says Daniel Küng.
You can read the full study with the four company examples and a commentary by Tamara Carleton, Silicon Valley innovation specialist, at download here.
