Strategic challenge
AREA42, the innovation branch of Credendo — one of Europe's largest credit insurers - closely monitors trends within the sector.
In response, AREA42 is developing innovative products and services that support SMEs in covering risks, both nationally and internationally.
Möbius was commissioned to provide an overview of the European SME market and insight into the key trade-related challenges that SMEs currently face.
Approach
1. Mapping the European SME market
Möbius undertook the following actions:
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A literal review and internal interviews with AREA42 and Credendo staff to identify possible criteria to distinguish European SMEs, such as country of activity, sector, focus on B2B or B2C, number of employees and realised turnover.
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A comprehensive analysis of (free) data sources on the European SME market and the defined criteria, including the determination of the necessary assumptions to complete missing data.
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Structured delivery of the data in Excel with the necessary visualisations and editing options, so that the data can be easily updated in the future.
2. Mapping the challenges
Möbius undertook the following actions:
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External stakeholder interviews with both brokers and SMEs to understand their current trade challenges and discover why certain products and/or services, such as credit ratings or underwriting, are or are not used.
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Conducting a large-scale online survey in nine countries (Belgium, the Netherlands, Germany, France, Spain, Italy, Poland, Sweden and the UK) with the help of the market research company Dynata, to more broadly test, evaluate and quantify the insights from the qualitative interviews.
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Delivering conclusions and recommendations for the future, including an analysis of potential markets based on the data collected on the European SME market.
Results
The project produced the following results:
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Confirmation and/or disconfirmation of assumptions about the European SME market already held by AREA42 and Credendo based on the results of the large-scale survey;
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Several specific ideas for further development within AREA42 have been provided.
