The European SME Day at its most difficult time
published on 12.05.21
On May 12, Europe celebrates the Day of SMEs, small and medium-sized enterprises, a key part of the business and productive fabric throughout the continent but also the most affected by the consequences of Covid-19.
According to Pimec, there are 525,000 SMEs and 546,000 self-employed people in Catalonia, representing 99.8% of the productive fabric, generating 75% of employment and contributing 65% of GDP. Despite being so important for the economy, it is estimated that between 15 and 20% of these will close as a result of the pandemic.
SMEs go digital
Apart from the closure of a very high percentage of these companies, the pandemic has also had other, perhaps more positive, consequences for these businesses. For example, Covid-19 has accelerated the digitization of SMEs in 2021. According to Exporta Digital, the crisis has accelerated the digitalization of companies by five years. This digitization can be key to the revival of the economy.
The pandemic has highlighted that those companies that were more digitized have felt less the impact of Covid-19. Having your marketplace offers many alternative business opportunities to mitigate the effects of a crisis like this one. It is not surprising, then, that this digitization has accelerated so much.
TBS’s bet
TBS in Barcelona in its Master in Management program offers an internationalization course dedicated exclusively to digital transformation, knowledge in demand, and, as we are beginning to see, very necessary for the future.
If you also want to be part of TBS and help companies digitally transform themselves, find out more about our Bachelor in Management, our Master in Management, or any of our MSc programs.
