SMEs: Revenues hold up, tariffs hurt 6 out of 10
Picture of resilience despite difficulties. Dissatisfaction with Plan 5.0, staff unavailable for 40% of the sample
by Luca Orlando
Concern about tariffs, dissatisfaction with Transition 5.0, solid average revenues, despite everything. It is a mixed picture that emerges from the Mecspe Observatory carried out by Nomisma concerning the second four-month period of 2025, presented at the third edition of Mecspe Bari, an event dedicated to manufacturing innovation in the Centre-South organised by Senaf and taking place at the Fiera del Levante in Bari until 29 November.
In spite of the complex external framework and the reduced incoming boost from world trade, the data on the performance of SMEs show signs of resilience on average: in the first 9 months of 2025, turnover is up or stable for 7 out of 10 companies compared to the same period of the previous year, and about 2 out of 3 are progressing in line with their targets for the current year. Three out of 10 companies say they are satisfied with the overall trend, with almost 6 out of 10 being satisfied on average.
Efficiency, automation and digitisation are the three drivers of innovation, followed by customisation, energy transition and sustainability.
However, the picture is not without its critical aspects. On the operational front, the order book reveals that about 30% of the companies rate it as adequate or above expectations, while almost 40% consider it partially or very insufficient. Looking to the future, about a quarter of the companies state that they have confidence in the market for the two-year period 2026-2027 (moderate confidence for half of the sample), while challenges such as the end of the Transition 5.0 Plan, the introduction of tariffs and the persistent difficulty in finding adequate human resources are looming.
Among these, the issue of human resources is a key factor in ensuring efficiency and competitiveness in Italian manufacturing. The sector has been reporting difficulties in finding qualified personnel for some time: 40% of companies indicate recruitment problems, and critical issues related to skills (38%) and labour costs (28%) persist. On the digitalisation front, however, the picture looks more encouraging: 6 out of 10 companies say they have reached a good level of digital maturity, a result consistent with the innovation and sustainability objectives that the Transition 5.0 Plan was intended to encourage. This path is supported by internal digital skills: more than 8 out of 10 companies say they are very, fairly or moderately satisfied with their staff's skills in technological innovation.
