A new study introduced by Visma in honor of World Entrepreneurs' Day focuses on small businesses and entrepreneurs, who are responsible for 85% of new positions created in the last five years and represent 99.8% of all active businesses in Europe. The study, which was conducted in collaboration with Kantar, surveyed 2,000 entrepreneurs and business proprietors throughout Europe. The primary findings indicate that administrative tasks consume over 40% of the time for 55% of respondents, while 11% allocate over 80% of their time to these responsibilities. Furthermore, 64% of respondents find it difficult to comprehend the regulations and policies that govern their organizations. The economy was identified as the most significant external challenge by nearly half of the respondents, with 46% prioritizing growth and 13% emphasizing the improvement of business efficiency in the upcoming year.
Visma, a leading provider of mission-critical software for Europe’s SMBs, supports over 1.7 million small businesses across more than 20 countries with over 70 local products. With revenue of $2.6 billion in 2023 and a workforce of over 15,000 employees, Visma is committed to simplifying and automating business operations. The company recognizes the transformative power of cloud software, artificial intelligence, and other technologies in equipping small business owners with essential tools. Visma’s mission is to facilitate this transformation and work closely with partners, clients, and employees to build a more flexible and resilient Europe.
