INTRODUCTION
We invite you to participate in the development of our report "THE 2026 STATE OF FINANCE REPORT". Our objective is clear: to examine how small and medium-sized enterprises (SMEs) finance their operations and, more importantly, their growth. While SMEs form the backbone of EU's economy (1), relevant stakeholders often undervalue their contributions. We observe a significant disparity: the favorable terms and conditions afforded to corporations are often inaccessible to SMEs, creating an uneven playing field. Furthermore, while startups are frequently championed as the primary engine for economic renewal across the EU, the reality is that nearly 90% of startups fail (2). In comparison, 45% of SMEs survive their first five years of operations (3).
ANNEX 1: SURVEY
SOURCES
(1): European Commission: Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs. (2025). Annual Report on European SMEs 2024/2025: SME Performance Review 2024/2025. Publications Office of the European Union. https://data.europa.eu/doi/10.2760/7714438
(2): Marmer, M., Herrmann, B.L., Dogrultan, E., & Berman, R. (2011) Startup Genome Report Extra on Premature Scaling. Startup Genome. https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
(3): European Commission: Eurostat. (2022). Key Figures on European Business. Publications Office of the European Union. https://data.europa.eu/doi/10.2785/329858