International context: 82% of SME managers are worried about their business

They fear the negative consequences of the latter on their business: increased energy costs, higher purchase prices, decreased demand… Consequently, business leaders have already taken certain measures, or are considering doing so: reducing expenses, postponing certain investments, passing on the increase in costs to selling prices.

International instability is a concern for French micro-enterprises.

Although the trade of very small businesses (TPEs) is primarily concentrated within Europe, instability in the Middle East is a major concern for business leaders. Faced with the uncertainties weighing on the global stage, 82% of TPE owners are worried about the international situation, characterized by successive conflicts in the Middle East, the war in Ukraine, and the assertive US policy on the international stage. This concern is even stronger among companies with more employees and higher turnover: 89% of business owners with 10 to 19 employees express concern (compared to 80% of owners with no employees), as do 86% of TPEs with a turnover of over one million euros (compared to 78% of TPEs with a turnover between 50.000 and 100.000 euros).

These levels are largely correlated with export practices: 91% of micro-enterprises in the industrial sector, 32% of which export, report being concerned. The construction and public works (BTP) and personal services sectors, which export relatively little, show lower levels of concern (75% and 73% respectively). Overall, 91% of exporting micro-enterprises report being concerned (vs. 82% on average).

Among the international issues of greatest concern for their businesses, 60% are worried about the successive wars in the Middle East, with their effects on international trade and the transit of oil tankers. To a lesser extent, SME executives cite the war waged by Russia in Ukraine (31%) or the aggressive foreign policy of the United States overall (25%).

Small businesses fear significant consequences for their operations.

A majority of SME leaders (84%) anticipate strong negative repercussions from the international situation in the next 6 months on their ecosystem.

66% anticipate repercussions on their sector of activity, but also on their own activity (63%) and that of their suppliers and subcontractors (63%).

Among these repercussions, over the next six months, business leaders fear price increases: a rise in energy costs for 46% of them and an increase in the prices of their purchases (services, supplies, or raw materials) for 43%. They also fear a decline in their business: nearly a third anticipate a drop in demand (35%) and a decrease in their revenue (33%).

90% of very small businesses are reacting by taking measures in response to the international context

Still in a posture of resilience, the bosses of very small businesses remain proactive in the face of crises since the majority of them (90%) have taken or are considering taking at least one measure due to the international context (+11 points vs. March 2023).

Thus, reducing their company's expenses (70%) appears to be the first measure to take in the face of soaring prices.

Postponing investments (56%) and passing on increased costs to the selling price (55%) follow. This latter measure presents the risk of creating a new inflationary spiral.

Faced with rising fuel prices, 90% of the business leaders concerned have taken or are considering taking at least one measure. To mitigate this increase, they are streamlining their operations: 63% of very small businesses are consolidating or intend to consolidate their travel, deliveries, or appointments, and 54% are reducing or intend to reduce certain business trips.

However, the business leaders interviewed also highlighted the fact, or intention, of passing on the increase to the price (49%), of having to refuse certain missions that are too expensive in terms of fuel (42%) and of postponing the purchase or renewal of a vehicle (42%).

Expectations of the government to support the economic activity of very small businesses

In this context, small business owners are also expecting government support, primarily in the form of social security contribution relief: 49% expect a reduction in payroll taxes and 49% expect a reduction in employer contributions to help them. These measures are cited more often than the implementation of a price cap on energy (33%) and a freeze on business taxes (24%).

A business pessimism at the highest level

Alongside a turbulent international situation, confidence in the government is only improving slightly: 84% (-3 points vs. Q4 2025) do not trust the economic measures and actions announced or put in place by Emmanuel Macron and his government.

On the business front, the level of pessimism among business leaders regarding their own operations continues to rise, reaching 60% (+6 points compared to Q4 2025), in a turbulent international context that has led to increased energy prices. This level can be explained in particular by the financial difficulties encountered: nearly one in two very small businesses (46%) are affected (+5 points compared to Q4 2025).

Meanwhile, pessimism regarding the general business climate in France also remains high (83%).

Finally, regarding employment, hiring and job cuts are stabilizing. At the same time, 15% of employers report having one or more vacancies in their company (+7 points compared to Q4 2025).

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Methodology of the study: A sample of 1.001 managers of very small businesses (0 to 19 employees), including self-employed individuals, was selected based on the company's sector of activity, size, and region of location. The sample was interviewed by telephone between April 3 and April 17, 2026. Companies with an annual turnover of less than €50.000 were not included in this study.

Illustrative image of the article via Depositphotos.com.