Oliver Wyman supported the European Investment Bank and COTEC Portugal, together with EIB’s Innovation Finance Advisory, in studying the barriers and possible solutions to the of SMEs in Portugal. This report provides an overview of the digitalization landscape for small and medium enterprises in Portugal, and outlines potential support measures. SMEs continue to play a key role in the Portuguese economy, representing more than three quarters of the country’s workforce. The analysis finds that while the access to finance conditions of SMEs in Portugal have improved in recent years, Portuguese companies still need to step up their efforts to invest more in digitalization in order to converge with the EU average, particularly those working in traditional sectors such as construction, retail and hospitality. Such actions aim to maximise access-to-funding for digital projects, enhance awareness and capabilities essential for the integration of digital solutions, and ultimately improve company productivity.
The study was carried out by the EIB under a European Investment Advisory Hub (EIAH or Advisory Hub) assignment for COTEC, the Portuguese Business Association for Innovation with a mandate from the Portuguese Ministry of Economy to address the innovation and digitalization of Portuguese companies.
To read the EIB’s press release follow this link.