Small businesses are the driving force of the European economy; accounting for 99% of European enterprises, making up 52% of Europe’s GDP, and employing 85m people. This week marks the European Commission’s annual SME Week, a chance to celebrate the enormous contribution these businesses make, but also an opportunity to problem solve and ensure they are supported in their evolution. At the heart of many small businesses across Europe are families, working together and sharing their passions with their local communities, from plant shops to homemade cakes and confectionary, to healthy meal deliveries that pack a punch. It has not been an easy ride, but despite ongoing financial hardships, these businesses have shown remarkable resilience in tough times. At Mastercard, we recognise the challenges they have faced, working to support their transition into the digital economy by identifying the barriers stopping them from getting there.
Small businesses are the driving force of the European economy; accounting for 99% of European enterprises, making up 52% of Europe’s GDP, and employing 85m people. This week marks the European Commission’s annual SME Week, a chance to celebrate the enormous contribution these businesses make, but also an opportunity to problem solve and ensure they are supported in their evolution. At the heart of many small businesses across Europe are families, working together and sharing their passions with their local communities, from plant shops to homemade cakes and confectionary, to healthy meal deliveries that pack a punch. It has not been an easy ride, but despite ongoing financial hardships, these businesses have shown remarkable resilience in tough times. At Mastercard, we recognise the challenges they have faced, working to support their transition into the digital economy by identifying the barriers stopping them from getting there.