Revenue Surge for Brazil’s Small and Medium Businesses in Q3
Omie, a cloud management platform, reported an 8.6% increase in revenue for small and medium enterprises (SMEs) during the third quarter of 2024 compared to the same period in 2023. This growth was captured by the Omie Economic Performance Index for SMEs, which tracks companies with annual revenues up to R$ 50 million ($8,9 million).
Felipe Beraldi, Omie’s Manager of Economic Indicators and Studies, highlighted that a robust job market and rising domestic consumption contributed to this growth. These factors offset the impact of higher interest rates set by the Central Bank.
The study covers 701 economic activities, revealing widespread growth across various sectors. Among the 22 manufacturing subsectors monitored, 16 showed positive results.
The commerce sector stood out with a remarkable 15.7% increase, driven by packaging, food, and industrial machinery segments. The services sector rebounded with a 4% rise after slowing in the second quarter, supported by increased household income.
Meanwhile, infrastructure saw a 6.5% growth after two quarters of decline, with improvements in waste treatment, electricity, and specialized construction services.
This data underscores the resilience and adaptability of SMEs amid economic challenges. The findings suggest that despite financial pressures, these businesses continue to thrive by leveraging market opportunities and consumer demand.
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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief