The untapped potential of SMEs in today’s digital world

Small and medium-sized enterprises (SMEs) are central to Europe’s economy:

99%	50+%
of businesses in Europe are SMEs³	of Europe’s GDP is generated by SMEs²

SMEs operate in an ever-evolving environment that creates new challenges daily. This evolution is driven by several key megatrends – one of which is digitalisation

Confidently navigating an increasingly digital landscape is challenging:

	SMEs want to embrace digital 68% of SMEs leverage digital channels where possible² but only 17% have fully integrated digital technology¹
	Many find engaging online difficult 25% of SMEs lack conviction when operating online³,equating to 6.3m SMEs across Europe³

An exciting opportunity for card Issuers

SME spending in Europe is nearly 50% higher than consumers⁴. You can tap into this spend by aiding SMEs in crucial areas e.g., accessing real-time data.

Watch our video below to see how Visa and 9 Spokes are enabling SMEs.

(1) Unleashing the full potential of European SMEs, European Commission, Mar 20
(2) The five-step journey to SME banking transformation, EY, Jul 21, https://www.ey.com/en_gl/banking-capital-markets/the-five-step-journey-to-sme-banking-transformation,
(3) Supporting Europe’s SMEs (highlights) – Jul 20
(4) European SME market assessment, Visa, Apr 21

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The untapped potential of SMEs in today’s digital world

Small and medium-sized enterprises (SMEs) are central to Europe’s economy:

Confidently navigating an increasingly digital landscape is challenging:

SMEs want to embrace digital

Many find engaging online difficult

An exciting opportunity for card Issuers