Association - SMEs fear long economic downturn
According to more than 84% of SMEs, the economic situation in Germany has deteriorated or even worsened considerably over the past twelve months.
In a survey conducted by the German Association of Small and Medium-Sized Enterprises (BVMW), around 43% of SMEs surveyed also stated that the situation of their own company had deteriorated. Around 40 percent also expect this to be the case in 2024.
"We are no longer just talking about a dip in the economy, but about a substantial, home-made crisis," said Christoph Ahlhaus, Chairman of the BVMW Federal Executive Board. Germany has become the laggard in Europe.
According to the survey, confidence in the traffic light coalition is low. For example, 70 percent of respondents do not trust the current federal government to solve the challenges and believe new elections are necessary. "The fact that the trust of top performers and executives in the current policy is continuing to erode is an alarm signal that the Chancellor should not ignore," said Ahlhaus.
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- The Federal Government's economic policy has been a major topic of concern for the Middle class in Germany, as many believe that the current economic situation is impacting their livelihoods negatively.
- Amidst this economic downturn, Germany's position in Europe has been compared unfavorably, with some advocating for a change in economic policy to boost the country's competitiveness.
- The Federal Government's handling of traffic and infrastructure issues, such as the implementation of the 'Traffic Light' coalition's policies, has also raised concerns within the business community, with many SMEs expressing dissatisfaction with the Government's ability to effectively address these issues.
Source: www.stern.de
