A recently published article by
IFAC explores the susceptibility of SMPs to disruptive changes caused by global trends. The article notes that the main trends affecting SMPs and SMEs in the EU can be divided into four broad categories:
- Digital transition, including its incumbent risks and opportunities;
- Sustainability and climate change, with a focus on legislation aiming to combat greenwashing through increased transparency and better governance;
- SMEs’ viability and resilience, encompassing issues such as the impact of inflation and the energy crisis, access to finance, insolvency, late payments, etc.; and
- Social justice and fairness, leading to new legislation and standards on taxation, anti-money laundering and anti-corruption
The article advises that SMPs and their clients need a modified culture, mindset, skillset and toolset to respond to these new trends, risks and opportunities.
To read the full article please click
here.