The expectations of SMEs have improved since last spring. According to the new SME Barometer, company expectations have recovered from the exceptionally negative spring to the same levels as a year ago as the effects of the energy crisis and the war in Ukraine have stabilised. However, expectations remain negative. The state of the economy is expected to deteriorate slightly over the next year. SMEs’ willingness to invest remains modest.

The expectations of small and medium-sized enterprises (SMEs) fell towards the end of the year. The near-term outlook of companies has been negatively affected by Russia’s war of aggression in Ukraine and the rising prices fuelled by the war. The European Central Bank continues to raise interest rates and the energy market is in turmoil.

The beginning of 2022 was exceptional for SMEs as the coronavirus pandemic started to worsen again. This situation is reflected in the expectations of near-term economic growth among small and medium-sized companies. The expectations have fallen but remain positive.

The demand for natural products is expected to grow globally. Natural raw materials are expected to generate significant business activities because their economic potential has not yet been fully realised.

While the turnover of the diverse bakery industry increased in 2020, competition continues to be tight; imports are on the increase and so are bakery services and store baking points.