European small Businesses Find a Digital Safety Net During COVID-19
A ‘Digital Safety Net’ has helped European small businesses during COVID-19. This research report and accompanying materials describe how and to what extent affordable and accessible digital tools have enabled many small businesses to survive and recover from the economic impact of COVID-19 – in some cases, becoming stronger and more agile in the process. Within the report you can find top-line findings, analysis and insights, and recommendations aimed at policymakers, technology companies, and small business leaders.
- – Uncertainty of return on investment (27%)
- – Protecting data privacy (25%)
- – Cost (23%)
Conclusions & Recommendations
Policymakers, technology companies and SME Leaders all have work to do in ensuring as many small businesses as possible have access to the benefits of the Digital Safety Net. Increased access to tools, training, funding, and expanded digital infrastructure are all catalysts for increasing the sustainability and growth for SMEs.
During 2020 digital transformation became digital urgency
Digital tools deliver support during times of crisis, fill important gaps during normal times and deliver advantage during competitive situations for talent, customers and sales.
Access to and use of digital tools drives better performance for SMEs
Policymakers and industry partners must align to cultivate a regulatory environment that nurtures SME access to world-class digital tools and creates a higher level of digital innovation in the economy to foster small business growth and enhance the wide-ranging benefits to consumers.
The gap between the most and least digitally-advanced SMEs is widening
SMEs that use many digital tools leverage an inertia that is speeding their evolution and multiplying their benefits. For SMEs that use few digital tools and remain uncertain of how to digitally adopt, the gap is widening at a growing pace. Closing this ‘new digital divide’ could bring significant economic benefits to all of Europe.
The Connected Commerce Council is working to help small businesses, their employees, and their customers stay safe as we work toward recovery. To find the right tools to use and the resources you need visit our site and our partner pages. We are in this together.
See Their Stories
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