Small and medium-sized businesses (SMBs) are the heart of the EU economy. They make up almost all businesses and account for nearly two thirds of the labour force, according to Eurostat data.

SMBs have navigated a pandemic, high inflation, high interest rates and changing consumer preferences — most notably by establishing online sales capabilities to maintain competitiveness against larger businesses.

In the latest edition of our ”Did you know?” series, we use aggregated and anonymised Mastercard data to showcase the resilience of SMBs in the EU.

Did you know?

Consumer spending at SMBs in the EU has proven resilient over the last three years

Source: Mastercard Economics Institute


SMBs gain share in the online-only space

Source: Mastercard Economics Institute


Throughout our ‘Did you know?’ series, we have looked under the hood of consumer spending to show how households shift their consumption to suit their needs in an ever-changing economic environment. In this blog, we show that SMBs are similarly adapting to the changing economic environment and its changing consumers.

This adaptability has allowed SMBs across the EU to remain competitive during a challenging economic period. As the headwinds of the past few years subside, the Mastercard Economics Institute sees SMBs as poised for growth.

To learn more about economic insights from the Mastercard Economics Institute, contact your Mastercard representative or request a demo.

Notes & Disclaimer

About the Mastercard Economics Institute

Mastercard Economics Institute launched in 2020 to analyze macroeconomic trends through the lens of the consumer. A team of economists, analysts and data scientists draws on Mastercard insights - including Mastercard SpendingPulse™ - and third-party data to deliver regular reporting on economic issues for key customers, partners and policymakers.

Disclaimer

© Mastercard International Incorporated. All rights reserved.

This Mastercard Economics Institute presentation (This "Presentation") and content or portions thereof may not be accessed, downloaded, copied, modified, distributed, used or published in any form or media, except as authorized by Mastercard. This presentation and content are intended solely as a research tool for informational purposes and not as investment advice or recommendations for any particular action or investment and should not be relied upon, in whole or in part, as the basis for decision-making or investment purposes. This presentation and content are not guaranteed as to accuracy and are provided on an "as is" basis to authorized users, who review and use this information at their own risk. This presentation and content, including estimated economic forecasts, simulations or scenarios from the Mastercard Economics Institute, do not in any way reflect expectations for (or actual) Mastercard operational or financial performance.


Footnotes


  1. Small and medium-sized businesses are defined as those who employ up to 249 people. Hospitality refers to the accommodation and food services sector.↩︎