Qonto data report shows 2024 set to be a year of tech investments for SMEs

Small and medium businesses in Europe’s largest economies are likely to prioritize investments in tech this year. This was one of a wide range of findings from an exclusive data study of European business sentiment commissioned by Qonto.

SME owners in Germany, Italy and Spain identified their tech services as the Number 1 area of intended investment, ahead of other business units including Customer Support and Marketing & Communications. New digital solutions were also most widely cited as priority growth levers in these markets.

However, businesses in France look set to buck this trend, choosing instead to focus on their Marketing & Communications, and on exploring new sectors and markets.

Get the full picture - download the full Qonto Data Report here.

When it comes to the new digital solutions businesses are looking to exploit, AI is among the new technologies most coveted, along with Fintech services and the Internet of Things. Across the four markets studied, more than 75% of respondents claimed to be “optimistic” or “very optimistic” about the impact of these tools.

The study, carried out by market research network Appinio in collaboration with Qonto, surveyed business leaders of 2,000 SMEs in France, Germany, Italy and Spain (500 from each market).

The results offer a range of other insights into the state of European entrepreneurship:

• A strong majority (70%) of SMEs performed better than expected in 2023.
• Over 80% of business leaders asked were optimistic about their 2024 revenues.
• Customer acquisition and improved finance management are among the SMEs’ biggest needs for this year.
• The new tech tools that appeal most to business owners are AI, the Internet of Things and fintech.
• Just over half of SMEs (52%) say they’re actively working to reduce their environmental impact.
• Women continue to be under-represented in business leadership roles and are less likely then men to start new companies in the next 3 years.