Qonto, a leading business finance solution for SMEs and freelancers, has published new research into the financing habits and attitudes of Europe’s small businesses. The quantitative study surveyed 1,659 solo and micro businesses across France, Germany, Italy and Spain in April 2026 to understand their financing habits, cash management practices and the barriers holding them back from accessing the capital they need.
The research reveals a continent-wide disconnect: nearly half (46%) of Europe’s small businesses have reduced or skipped paying themselves a salary in the past year, using their own salary sacrifice as a financial crutch. This rises to 71% of businesses in their first 6-12 months after creation. The same number (46%) say managing cash flow is one of their biggest challenges; yet 45% have chosen not to seek financing, with 57% of those claiming they see no need for it. Even more worryingly, over a third (36%) believe borrowing money to be a sign of failure.
It paints a picture of a financial race to the bottom. And the cost is visible: over a quarter (28%) have missed business opportunities due to lack of financing access and more than a third (37%) say they want to grow but lack capital.
France and Spain lead the charge in using their income as a financial lever, with half (50%) of French and Spanish small businesses having reduced or skipped paying themselves a salary at least once over the past 12 months.
