Vistage reports fall in UK & Ireland SME confidence

Vistage has announced a significant decline in economic confidence among SME CEOs in the UK and Ireland, according to its latest quarterly SME Confidence Index.

The findings reveal a drop in economic confidence from a score of 107.1 to 91.4 in the final quarter of 2024, with economic conditions reportedly worsening over the past year for 69% of businesses.

A sentiment of uncertainty prevails, with only 54% of business leaders expressing optimism about profitability prospects in 2025.

Despite these uncertainties, a majority of business leaders, 72%, plan to increase hiring in 2025 as part of efforts to invest further in talent acquisition.

In light of these developments, Vistage has appointed Rebecca Drew as the new Managing Director for the UK and Ireland. Drew, who brings over 20 years of experience in mentorship programmes from her previous roles at Chief and LinkedIn, is expected to steer initiatives to support SMEs during these challenging times. Her focus will be on designing bespoke mentorship solutions, building strategic partnerships, and enhancing support for business leaders and executives across the region.

"I am thrilled to join Vistage at such an exciting phase of growth, where our members need our support the most," said Drew. "Mentorship plays a critical role in helping businesses achieve their full potential, especially during periods of uncertainty. Insights from our latest report highlight a significant decline in economic confidence among SME CEOs, with many citing concerns around revenue and profitability projections."

"This makes our work even more essential in equipping leaders with the tools and guidance they need to adapt, survive and thrive. I feel confident in our ability to work together with SMEs across the UK and Ireland to continue their growth trajectory and bolster a culture of resilience and innovation despite challenges in the wider business landscape."

Rob Ristagno, President of International Operations, Vistage Worldwide, commented on Drew's appointment: "With confidence levels declining, Rebecca's appointment comes at a key moment. Her expertise in mentorship and organisational transformation gives us confidence that she has the tools to provide the support businesses need to navigate these difficult times and build resilience for 2025."

Sam Reese, CEO of Vistage Worldwide, also expressed enthusiasm for Drew's leadership: "We are delighted to welcome Rebecca to our international leadership team; her well-seasoned experience and vision align perfectly with our mission to provide world-class executive mentorship. As indicated by the results from our Q4 index, economic confidence has fallen by 15 points."

"Rebecca's deep expertise in empowering business leaders in the face of adversity is exactly what's needed to address the pressure points we know SMEs are currently facing."

Vistage has a long history of supporting business leaders with personalised mentorship programmes. Since its founding in 1957, it has grown to support over 45,000 executives in 40 countries, focusing on leadership effectiveness, operational efficiency, and fostering innovation.