What are the new challenges for SMEs?
The last four years have been marked by significant job creation, increased investment, the budgetary balance of Public Administrations, in parallel with an important investment effort in the capacity and professionals of public services and the positive external balance.
This evolution occurs together with an important effort of indebtedness by the State, companies and families and in a scenario of international uncertainty that has limited the growth of Portugal's main trading partners, confirming solid bases for future economic growth.
The global economic prospects for June 2020 point to the immediate and short-term results of the impact of the pandemic and the long-term damage this context has caused to growth prospects: the deepest global recession in decades, lower investments, a erosion of human capital and the fragmentation of global trade and supply links.
A competitive context
The SARS-COV-2 pandemic declared in 2020, highlighted that the world we currently live in can be described under the acronym - VUCA (H), considering those that are the traits that best characterize it, namely: volatility, uncertainty, complexity, ambiguity and, still, hyper connectivity.
The companies were surprised by a scenario that few, if any, had considered in their strategic planning. This event forced nations, markets, organizations, families and individuals to, in an unexpected and sudden way, slow down and rethink their purpose.
The importance of Branding
Nowadays the public is looking for experiences and not just services or products that fulfill their functionality, the branding helps in defining the “promise and delivering an experience”.
A strong Brand is a valuable Brand. Loyalty and creates a desire for recommendation. A loyal audience means a greater capacity to achieve the proposed mission.
Find out about this topic in our e-book COMM4PME here.