The digitalisation of European businesses is essential for the future competitiveness and
growth of the economy. It enables companies to innovate in products, services, processes
and business models.
The fast-track digitalisation of many European companies forced by lockdown restrictions led them to resort to digital technologies and re-invent their business models.
Nevertheless, more needs to be done for European companies to become more digitally able and resilient to shocks. This primer to European funding programmes is a starting point to guide Member States through the various financing sources, and therefore advice companies to make a better use of these possibilities.
Accelerating the digital transformation is a necessity to thrive in a digital economy, and is the reason why the European Commission dedicated a cardinal point of its Digital Compass Communication to the Digital Transformation of Businesses, establishing two ambitious targets to be reached by 2030:
- 75% of EU companies using Cloud/AI/Big Data
- More than 90% of SMEs reach at least a basic level of digital intensity
These targets support to focus investments and reforms that are an important springboard for making Europe fit for the digital age and thereby strengthening European market competitiveness and prosperity. Yet, this massive transformation of the economy will require even more resources from public and private sources, complementing the initial efforts of the European funding programmes.