Es are the beating heart of the global economy. In Europe alone, there are 24 million small businesses, employing a total of 95 million people and generating €4 trillion a year. And yet, SMEs are still behind their larger counterparts in the integration of the digital tools that they need to increase productivity, scale-up and innovate.
A year ago, entrepreneurs and small business owners found themselves in unchartered waters. Faced with unprecedented restrictions on their activity, the pandemic forced many to close their businesses and turn to governments for support for the first time. Early hopes of a swift recovery after lockdowns were lifted quickly proved to be a false dawn when the pandemic returned in second and third waves. Some small and medium-sized enterprises (SMEs) and entrepreneurs were able to adapt and seize new opportunities…
As communities around the world once again retreat into confinement, for many it will no doubt feel like heading in reverse. However, if you peek beneath the bonnet – as the latest OECD report does – we can find much is changing. While the virus rages outside, our economic engine is being remade: with digital drive.
