UBS Survey Reveals Entrepreneurial Resilience: Why 68% of Business Owners Are Betting on Growth Despite Global Uncertainty

In an era of geopolitical tension, trade policy uncertainty, and economic volatility, one might expect entrepreneurs to hunker down and preserve capital. Yet the latest UBS Global Entrepreneur Report paints a strikingly different picture. Based on a survey of 215 business owners across 26 markets—whose companies collectively generate $34.3 billion in annual revenue—the study reveals a global entrepreneurial class that is remarkably optimistic, expansion-minded, and increasingly technology-driven .

The confidence gap: Why entrepreneurs see opportunity where others see risk

According to the report, 68% of entrepreneurs express optimism about their businesses over the next 12 months . This positive outlook stands in contrast to broader economic sentiment, which remains cautious amid trade disputes and Middle East tensions.

What’s driving this confidence? Three factors stand out:

• Rising customer demand – 64% cite strengthening demand as their primary growth driver
• Technology acceleration – Advances in AI and automation create new efficiency and revenue opportunities
• Resilient business models – Entrepreneurs have adapted to disruption and developed more flexible operations

UBS’s Benjamin Cavalli noted that entrepreneurs are entering 2026 with “remarkable resilience and a renewed sense of ambition,” driven by both customer demand and rapid technology advances .

Expansion plans signal economic momentum

Entrepreneurial confidence isn’t abstract—it’s translating into concrete expansion plans:

• Workforce growth: Just over half of respondents intend to expand their workforce in the coming year, with 80% expecting headcount to rise over the next five years. Technology, healthcare, finance, and real estate firms are the most aggressive in hiring plans .
• Geographic expansion: 45% are considering relocating or expanding their businesses to new countries or regions. The primary motivation: reaching new customers and positioning closer to suppliers and partners. This geographic mobility could shift growth centers, particularly in industries where cross-border expansion accelerates .
• Operational investment: Two-thirds are focused on improving efficiency and controlling costs, while 60% work to diversify customer bases and reduce exposure to regional disruptions.

AI: The technology entrepreneurs believe in

Among emerging technologies, artificial intelligence stands out as the opportunity entrepreneurs expect to deliver the greatest business impact :

• 60%+ say AI presents the most compelling commercial opportunity among emerging technologies
• Nearly two-thirds expect AI to boost efficiency and automation over five years
• More than half anticipate better data analysis and improved margins from cost reductions

However, entrepreneurs are realistic about AI’s immediate value. Rather than expecting transformative new revenue streams, most see near-term benefits in operational improvements. “Right now, companies are prioritizing the low-complexity AI use cases that boost operational efficiency, speed and data analytics,” explained UBS equity strategist Delwin Kurnia Limas. “The real value creation will emerge in the next phase, when AI becomes a catalyst that reshapes product innovation and hyper-personalized customer engagement” .

Adoption challenges remain significant. Nearly half of respondents struggle to find workers with technical AI expertise, and many acknowledge they lack a clear integration strategy .

The risks entrepreneurs can’t ignore

Despite their optimism, entrepreneurs remain alert to macroeconomic and geopolitical threats :

• Political instability ranks as the biggest concern both in the coming year and over five years
• Trade policy changes and recession risks follow closely
• Geopolitical conflict rounds out the top concerns

These worries are driving defensive positioning alongside expansion plans. Business leaders are strengthening operating models, improving efficiency, and diversifying customer bases to reduce exposure to any single region or market.

The coming wealth transfer: What it means for advisors and investors

Beyond immediate business trends, the UBS survey highlights a demographic shift with profound implications for wealth management :

• 32% of entrepreneurs say they are considering stepping back from their companies within five years
• Among founders age 65 and older, the figure rises sharply
• Most expect to sell to strategic buyers, while others plan family succession or private investor transfers

Notably, nearly one-third of respondents acknowledge they have not accumulated as much personal wealth outside their businesses as they could have, often due to reinvesting in growth. This creates a substantial opportunity for wealth managers as founders shift focus toward personal financial planning post-exit .

Oliver Herrmann, family advisor at UBS, noted: “There seems to be a high level of awareness regarding the importance of wealth transition, which is understandable as the moment of transition is coming closer for many entrepreneurs” .

Regional and sectoral variations

While the survey captures global trends, underlying patterns reveal important variations:

• Technology and healthcare firms show the strongest hiring intentions and AI adoption
• Finance and real estate companies also demonstrate above-average expansion plans
• Asia-Pacific entrepreneurs appear particularly focused on geographic expansion
• European business owners express greater concern about regulatory fragmentation

Implications for business leaders and investors

The UBS findings offer actionable insights for multiple audiences:

For corporate leaders: The entrepreneurial focus on AI efficiency suggests that cost optimization through technology remains a priority. Companies that delay AI adoption risk falling behind more agile competitors.

For investors: The coming wave of business exits could create acquisition opportunities, while the geographic mobility of entrepreneurs may signal where future growth centers will emerge.

For policymakers: Entrepreneurial concerns about political instability and trade policy underscore the economic costs of uncertainty. Stable regulatory environments could attract mobile entrepreneurs.

For wealth managers: The pending transition of founder wealth represents one of the largest intergenerational wealth transfers in history, with significant planning opportunities.

What to watch next

• Whether entrepreneurial hiring plans materialize amid labor market tightness
• Which regions attract geographically mobile entrepreneurs
• How AI adoption evolves from efficiency tool to innovation driver
• The pace and structure of business exits over the next five years

Conclusion

The UBS Global Entrepreneur Report reveals a business leader class that refuses to let uncertainty paralyze ambition. Despite political risks and economic headwinds, entrepreneurs are hiring, expanding, and investing in technology at rates that suggest genuine confidence in the future. Their focus on AI as an operational tool rather than a magic bullet reflects mature thinking about technology adoption. And their impending retirement wave signals a coming transformation in business ownership and wealth management. For CEOs watching from larger enterprises, the message is clear: entrepreneurial competitors are not standing still—and neither should you.