Half of small businesses forgo their salaries
46% have cut or skipped paying themselves to keep their business running - but haven't sought outside financing
1 in 2
say cash flow is one of their biggest challenges
1 in 2
have never used financing
1 in 4
have missed business opportunities due to lack of financing
Insights from a survey of 1,659 small businesses (0-9 employees) across France, Germany, Italy, and Spain in March-April 2026.
Financing attitudes
Barriers
Salary sacrifice
Decision drivers
Future financing
1 in 3 feel debt stigma
1 in 3 feel debt stigma
36% see taking on debt as a sign of poor financial management and 33% worry that using financing would compromise their autonomy over business decisions.
It's a matter of independence, too: 77% pride themselves on running their business on their own.
1 in 2 skip paying themselves
1 in 2 skip paying themselves
46% have cut or avoided paying themselves a salary in the past year. This rises to 71% of businesses in their first 6-12 months.
46% also say managing cash flow’s one of their biggest ongoing challenges; yet 57% of those who’ve never sought financing claim they have no need for it.
1 in 2 would leave for a better deal
1 in 2 would leave for a better deal
When choosing financing, familiarity gets businesses through the door - but it doesn’t mean they'll stay put.
59% of EU SMEs chose their most recent lender simply because they're already a customer, but 49% would switch mid-loan for better rates.
1 in 4 will need financing soon
1 in 4 will need financing soon
28% of EU SMEs predict that they’re likely to need financing in the next 12 months.
Whether or not this cohort overcomes their aversion to borrowing cash is another question: 10% of those needing financing over the coming year say that they don’t plan to seek it.
Country highlights
Most likely to see borrowing as a sign of failure
France is joint-most likely to have used financing (56%, tied with Italy) but bears the EU's highest debt stigma & second-worst cash flow stress. 1/3 of French businesses have missed opportunities due to lack of financing.
Least judgemental towards borrowing
39% don’t see borrowing as a sign of poor financial management - the EU's highest. Germany's also least likely to choose a financial provider solely because they’re already a customer.
Biggest overdraft users
56% of Italy’s SMEs either currently use or have used financing - an EU high, tied with France. Overdrafts are a popular choice: among current financing users, 34% of Italian SMEs currently have one (vs. Spain'’s 12% low).
Most likely to feel cash flow pain
57% say cash flow management is one of their biggest ongoing challenges - an EU high . And it shows: 50% have cut their pay/skipped paying themselves at least once in the past year - joint EU-highest (tied with France).
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