SMBs Driving Globalization as the Ticket for Growth, New Research From Payoneer Shows
19 Julho 2023 - 7:00AM
Business Wire
Payoneer’s inaugural SMB Ambitions Barometer surveyed 3,575
entrepreneurs and small business owners from around the world to
uncover what they are looking for
Payoneer (NASDAQ: PAYO), the financial technology company
empowering the world’s small and medium-sized businesses (SMBs) to
transact, do business, and grow globally, today announced results
from its inaugural SMB Ambitions Barometer. What the research
found: an overwhelming agreement among surveyed SMBs (72%) that
expanding into overseas markets results in increased revenue, but
less than half (41%) are seizing the opportunity.
The Barometer surveyed 3,575 SMB owners and decision-makers
across 15 markets including the US, Brazil, Argentina, the UK,
Serbia, France, Israel, South Korea, the Philippines, Vietnam,
China, India, Bangladesh, the United Arab Emirates, and Ukraine.
Businesses surveyed plan to grow their exports and further
globalize their supply chain.
John Caplan, Payoneer’s CEO, commented:
“The results of the first Payoneer SMB Ambitions Barometer
demonstrate that globalization is here to stay. The benefits of an
interconnected global ecosystem should not be limited to large
companies — SMBs around the world are increasingly looking across
borders for new customers and business. Payoneer is excited to work
with SMBs around the world to build a more reliable and connected
cross-border economy together.”
Highlights from the research indicate as follows:
Globalization is here to
stay: Half of surveyed SMBs expect their customers and
vendors to be from overseas by 2024
- SMBs go global to grow: 72% of those surveyed look
towards exports for growth. They expect half (50%) of their
customers to be from other countries in the next two years (up from
42% in 2022). Exports made up 52% of their total revenue in 2021
and 61% by 2022.
- SMBs diversify and globalize their vendor base for greater
agility and resilience: They expect to almost double the number
of vendors between 2020 and 2024 (from 17 to 30 vendors on
average), and that the proportion of international vendors will
grow from 10% today to 48% by 2024.
- Going global is a top priority: 41% cite “researching
additional geographic markets to enter” as the most important
business priority vs. 47% who cite cost reduction.
Global supply chain woes and
cross-border payment infrastructure challenge SMBs’ ambitions to go
global
- Global supply chain disruptions remain a top concern:
Surveyed SMBs consider it the most disruptive event in the past two
years and expect it to continue as a top concern in the near
future.
- Cross-border payment is a hurdle: Over 90% of surveyed
SMBs send and receive payments to and from three or more countries.
However, almost half cite payment-related challenges (foreign
exchange rates, transfer fees, payment delays and confirmations) as
a significant barrier to doing business globally.
Challenges and expectations to
globalize
- US SMBs struggle with cross-border transactions: Despite
having the largest proportion of international customers, surveyed
SMBs in the US are more likely than their counterparts in the
Americas to say they always or often struggle with cross-border
payments. For example, 50% of US-based SMBs say they struggle with
slow transaction times vs. 39% in Brazil and 37% in Argentina.
- Bangladesh has the most global customer mix, while Vietnam
expects the biggest jump by 2024: 47% of Bangladeshi SMBs’
customers are currently from abroad and are expected by those
surveyed to grow to 56%. Vietnamese SMBs expect to see the biggest
growth in international customers in the next two years (11
percentage point increase from 39% to 50%).
- In Brazil, Argentina, and France, customer bases skew
local: These SMBs cite the highest proportions of domestic
customers (67%, 65%, and 62% respectively), compared to the global
average of 59%.
- China and India increasingly look to international
suppliers: Surveyed businesses in both countries anticipate a
10-percentage point increase in the average number of overseas
vendors (from 38% and 39% currently to 49% and 48% in 2024,
respectively).
Payoneer’s full report can be found here.
About the research
Payoneer partnered with Oxford Economics to survey 3,575
decision-makers from small- and medium-sized businesses (250
employees or fewer) around the world. Our research set out to
understand how SMBs plan to expand their business across borders
and the challenges they face in achieving their goals, including
disruptive global events and inefficient payment processes. Our
sample consists of CEOs, owners, CFOs, finance directors, and
managers—all of whom influence or have decision-making
responsibility over their company’s strategies and operations. The
online survey was conducted at the end of 2022 and included
respondents from 15 countries (US, Brazil, Argentina, UK, Serbia,
France, Israel, South Korea, Philippines, Vietnam, China, India,
Bangladesh, United Arab Emirates, Ukraine) and across 16
industries. A note about Ukraine: For the Ukraine sample, the
online survey was distributed to Payoneer clients from November
29th, 2022, through January 26th, 2023.
About Payoneer
Payoneer is a financial technology company empowering the
world’s small and medium-sized businesses (SMBs) to transact, do
business and grow globally. Payoneer was founded in 2005 with the
belief that talent is equally distributed, but opportunity is not.
It is our mission to enable anyone anywhere to participate and
succeed in the global digital economy. Since our founding, we have
built a global financial platform that has already made it easier
for millions of SMBs, particularly in emerging markets, to pay and
get paid, manage their funds, and grow their business.
www.payoneer.com
Forward-Looking Statements
This press release includes, and oral statements made from time
to time by representatives of Payoneer, may be considered
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
relate to future events or Payoneer’s future financial or operating
performance. For example, projections of future volume, revenue,
transaction cost and adjusted EBITDA are forward-looking
statements. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “expect,”
“intend,” “plan,” “will,” “estimate,” “anticipate,” “believe,”
“predict,” “potential” or “continue,” or the negatives of these
terms or variations of them or similar terminology. Such
forward-looking statements are subject to risks, uncertainties, and
other factors which could cause actual results to differ materially
from those expressed or implied by such forward-looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Payoneer and its
management, as the case may be, are inherently uncertain. Factors
that may cause actual results to differ materially from current
expectations include, but are not limited to: (1) changes in
applicable laws or regulations; (2) the possibility that Payoneer
may be adversely affected by geopolitical and other economic,
business and/or competitive factors; (3) Payoneer’s estimates of
its financial performance; (4) the outcome of any legal
proceedings; and (5) other risks and uncertainties set forth in
Payoneer’s Annual Report on Form 10-K for the period ended December
31, 2022 and future reports that Payoneer may file with the SEC
from time to time. Nothing in this press release should be regarded
as a representation by any person that the forward-looking
statements set forth herein will be achieved or that any of the
contemplated results of such forward-looking statements will be
achieved. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. Payoneer
does not undertake any duty to update these forward-looking
statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230719683374/en/
Investors investor@payoneer.com
Media pr@payoneer.com
Payoneer Global (NASDAQ:PAYO)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Payoneer Global (NASDAQ:PAYO)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024