Swiss SMEs face growing strategic challenges
(24.06.2026) The economic environment for Swiss SMEs has deteriorated significantly. The overall score of the Neue Zürcher Zeitung (NZZ) SME Barometer 2026 fell to -7.3 points in the second quarter of 2026, the lowest level recorded since the survey was launched in 2021.
Geopolitical uncertainty, US trade policy and increasing administrative burdens are affecting all indicators. Compared with 2025, the SMEs surveyed reported a particularly marked deterioration in international business activities, the monetary environment and the reliability of supply chains. The integration of modern technologies is the only area showing positive development.
The findings on resilience present a mixed picture. More than half of the companies surveyed (55%) consider themselves either “fairly” or “highly” resilient, and most believe they are able to respond effectively to an operational crisis. However, the survey, conducted among 495 business leaders, also points to structural vulnerabilities. Nearly one-fifth of SMEs would struggle to absorb an unexpected decline in turnover, while some would face a serious threat to their viability. Fewer than one-third believe they would be able to adapt their business model within six months. Diversifying suppliers and customers also remain a challenge for most respondents.
The survey indicates that the ability to learn from past crises, together with a proactive approach to artificial intelligence and digitalization, contributes positively to SME resilience.
According to NZZ Chief Economist Peter A. Fischer, confidence among Swiss companies has weakened markedly in response to the deterioration of the global environment and framework conditions in Switzerland. While companies generally manage operational crises effectively, their strategic flexibility remains limited. Their ability to adapt business activities rapidly in an uncertain environment is still insufficient.