Vistage appoints Rebecca Drew amid confidence dip

Vistage has announced a significant decline in economic confidence among SMEs according to its quarterly SME Confidence Index, coinciding with the appointment of Rebecca Drew as the new Managing Director of its UK and Ireland operations.

The latest figures from Vistage's report reveal a drop in economic optimism among SME CEOs, decreasing from 107.1 to 91.4 in the concluding quarter of 2024.

Additionally, 69% of businesses reported that economic conditions have deteriorated over the past year and 55% expect this trend to persist into the next year.

The report highlights increasing economic uncertainty, with only 54% of business leaders expressing optimism about their company's profitability in 2025. Despite this, there remains a strong intent to bolster workforce numbers, with 72% of business leaders planning to increase hiring efforts in the coming year.

The appointment of Rebecca Drew, who boasts over two decades of experience, including leadership roles at Chief and LinkedIn, aims to strengthen Vistage's services in this challenging economic climate. Her expertise is expected to enhance mentorship programmes and support for SMEs in the UK and Ireland.

"I am thrilled to join Vistage at such an exciting phase of growth, where our members need our support the most," Drew stated. "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."

Vistage has observed a 20% year-on-year increase in demands for its mentorship services, reflecting the pressures and market dynamics that organisations are currently navigating.

Rebecca Drew is expected to lead efforts to design initiatives that will better support and safeguard vulnerable SMEs. Her responsibilities will include spearheading customised mentorship solutions and strengthening strategic partnerships across the region.

Commenting on the prevailing economic conditions, President of International Operations, Rob Ristagno, remarked: "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, added: "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."