(10.12.2025) Swiss SMEs are increasingly concerned about their prospects: only 52% assess their future economic situation positively. This is 16 points lower than in 2024 (68%), according to the 2025 SME Study conducted by the association swiss.export and the consulting firm Kearney.
More than two thirds (70%) of the SMEs surveyed cite foreign policy as the main economic risk (+29 points compared with 2024). Nearly half (48%) are worried about the lack of clear prospects regarding agreements with the European Union, a rise of 19 points from the previous year. An identical share (48%) also fears a rise in protectionism (+28 points).
In this environment, further affected by the 39% customs duties imposed by the United States in August 2025 before being lowered to 15% in November, 27% of SMEs report a decline in turnover. While exports to the United States and Asia are falling, trade with European partners remains stable but does not compensate for the drop in intercontinental business.
Resilience, however, remains high. Nearly three quarters (74%) of SMEs consider themselves prepared to face upcoming challenges, particularly by strengthening partnerships and diversifying markets and suppliers.
Regarding policy expectations, 86% of SMEs call for clearer and more stable external framework conditions, and 81% call for stronger representation of Swiss interests internationally. Stabilizing relations with the EU is considered a priority by more than 60% of SMEs (+17 points compared with 2024), while 44% (+34 points) underline the need to conclude new free-trade agreements. Reducing bureaucracy (35%, -6 points) and improving the country’s attractiveness (27%, +7 points) also remain key demands.
Last modification 10.12.2025
