A recent survey conducted by Qonto, a European business finance solution, in collaboration with market research company Appinio, reveals positive sentiments among European businesses for the year 2023, extending into 2024. The survey involved 2,000 executives across France, Germany, Italy, and Spain. The survey outcomes highlight the prevailing optimism for 2024 among European SMEs. Notably, 85% of Italian companies express optimism or strong optimism regarding revenue growth for the upcoming year. Spain closely follows with 86%, while Germany and France record figures of 84% and 74%, respectively. Key priorities for European SMEs in 2024 include the development of technology and the acquisition of new customers. The positive outlook for the upcoming year is underscored by the majority of respondents expressing confidence in their companies' performance in 2023, surpassing expectations. Across all four countries, 71% of professionals noted that their companies performed "better" or "much better" than anticipated in 2023.
In Italy, 63% of respondents reported that their 2023 results exceeded expectations, and France recorded a similar sentiment with approximately 68%. German SMEs (78%) and Spanish SMEs (75%) notably outperformed expectations for the year. Despite the optimistic outlook, concerns persist regarding the macroeconomic context, particularly related to inflation and geopolitical events. Inflation is identified as the primary obstacle to growth universally, followed by a lack of demand and geopolitical events. German SMEs appear most impacted, with 68% citing inflation as the main obstacle. Spanish SMEs share a similar view, with 61% considering inflation a significant challenge. In France and Italy, at least half of the companies identify inflation as a hindrance to their business performance, with rates of 55% and 50%, respectively. Mariano Spalletti, Managing Director of Qonto in Italy, commends the persistent optimism among business leaders across the surveyed countries, acknowledging their remarkable efforts in navigating challenges throughout 2023. He emphasizes the crucial role of continued support for these businesses as they strive for growth.
