RICOH-EUROPE
The overwhelming majority of businesses across Europe (92 per cent) admit they are not ready for the introduction of the EU Digital Single Market, according to new research commissioned by Ricoh Europe . The Digital Single Market is set to be the most game-changing European regulation this decade, yet millions of businesses currently stand to miss out on its benefits and let an estimated €415bn contribution to the European economy pass them by1 .
Only half of businesses (51 per cent) have heard of the EU’s proposed Digital Single Market, which is due to come into force at the end of 2016 and will standardise Europe’s online marketplace so that the same content, products and services are available at the same prices anywhere in the EU. Awareness of the proposals is at its lowest in The Nordics (28 per cent), Belgium/Luxembourg (29 per cent) and Portugal (30 per cent), according to the survey of 1,360 business leaders from across EU states.
| # | Percentage of businesses in each country aware of the EU’s Digital Single Market | # | Percentage of businesses in each country not ready for Digital Single Market | |||||||||
| 1. | Italy | 70% | 1. | Poland | 97% | |||||||
| - | France | 70% | 2. | France | 95% | |||||||
| 2. | Spain | 65% | - | Germany | 95% | |||||||
| 3. | Germany | 61% | 3. | Belgium / Luxembourg | 94% | |||||||
| 4. | UK | 57% | 4. | UK | 92% | |||||||
| 5. | Poland | 47% | - | Spain | 92% | |||||||
| - | Austria | 47% | - | Portugal | 92% | |||||||
| 6. | Hungary | 46% | 5. | Hungary | 91% | |||||||
| 7. | The Netherlands | 43% | 6. | Italy | 91% | |||||||
| 8. | Portugal | 30% | 7. | The Nordics | 90% | |||||||
| 9. | Belgium / Luxembourg | 29% | 8. | Austria | 88% | |||||||
| 10. | The Nordics | 28% | 9. | The Netherlands | 86% | |||||||
The low levels of awareness and preparation are particularly worrying given that only seven per cent of EU SMEs currently sell across borders; a figure which needs to be increased if the European economy is to thrive2 . Most European businesses (65 per cent) say they intend to expand to other countries in the continent over the next five years, but unless they embrace the Digital Single Market these ambitious growth plans are unlikely to be realised. Companies from the Austria, Hungary and The Nordics are the most likely to have plans to expand outside of their own country by 2020.
Most respondents thought that there would be several benefits from a digital single market, in particular, an increase in the number of customers from the EU (chosen by 56 per cent of respondents), the opportunity to access new European markets (chosen by 52 per cent), as well as increased internal efficiency in their own business (44 per cent).
However, 24 per cent of companies surveyed don’t believe there will be any benefits resulting from a digital single market, and many have concerns about its impact on their business. 40 per cent of businesses claim they are not ready for the increased competition a digital single market will introduce, while 37 per cent are afraid of its cost implications, and 34 per cent believe they lack the resources to capitalise on the opportunity. A third also believes there will only be more regulation for the sake of it.
| Perceived benefits to the business | Perceived concerns for the business | ||||||
| Increased EU customers | 56% | Increased competition | 42% | ||||
| Reduced barrier to enter new markets | 52% | Greater IT requirements | 41% | ||||
| Greater revenue | 52% | VAT obstacles | 36% | ||||
| Greater profitability | 50% | Cross border data protection uncertainty | 34% | ||||
| Reduced operating costs | 48% | Investment required to launch in a new territory | 34% | ||||
| Faster launch of new products/services | 47% | Prices of products and/or services driven down | 32% | ||||
| More efficient internal processes and systems | 44% | Lack of clear cross-border e-commerce rules | 29% | ||||
David Mills, CEO of Ricoh Europe , said: “So far, business leaders are failing to grasp the enormous impact the impending Digital Single Market will have upon their company. It’s a genuine concern that many bosses appear to feel no immediate pressure to prepare their organisations for Europe’s shift towards an increasingly digitally-based economy.”
One reason for companies’ lack of excitement about the Digital Single Market might be their concerns about their own countries’ digital strength. Only nine per cent of European business leaders say their own country is “very strong” at digital technology, skills and infrastructure. Whilst nearly two-thirds of businesses in the Nordics believe their countries are digitally strong, this shrinks to a fifth of Polish and Spanish companies, and only 15 per cent of those in France and Italy. According to the European Commission’s Digital Economy and Society Index3 , Denmark, Sweden and Finland rank as the top three digitally-enabled nations out of the 28 EU Member States with both Poland, Italy and Spain listed in the bottom half.
Mills continues: “By starting to streamline, digitise and standardise their processes now, forward-thinking European businesses will be in good stead to develop a distinct competitive advantage. This is a necessary step if Europe is going to create home-grown digital giants that can compete on the global stage traditionally dominated by American, and increasingly Chinese, companies.”
Find out more at www.ricoh-europe.com/thoughtleadership .
-ends-
1 http://ec.europa.eu/priorities/digital-single-market/
2 http://europa.eu/rapid/press-release_IP-15-4919_en.htm
3 http://europa.eu/rapid/press-release_IP-15-4475_en.htm
About Ricoh
Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services. Headquartered in Tokyo, Ricoh Group operates in about 200 countries and regions. In the financial year ending March 2015, Ricoh Group had worldwide sales of 2,231 billion yen (approx. 18.5 billion USD).
The majority of the company's revenue comes from products, solutions and services that improve the interaction between people and information. Ricoh also produces award-winning digital cameras and specialized industrial products. It is known for the quality of its technology, the exceptional standard of its customer service and sustainability initiatives.
Under its corporate tagline, imagine. change. Ricoh helps companies transform the way they work and harness the collective imagination of their employees.
For further information, please visit www.ricoh-europe.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20151104005002/en/
Contact:
For further information, please contact:
Ricoh Europe PLC
Jack
Gibson / Lakshmi Rajendran
Tel: +44 (0) 203 033 3766
E-mail: press@ricoh-europe.com
Homepage: www.ricoh-europe.com
Join
us on Facebook: www.facebook.com/ricoheurope
Follow
us on Twitter: www.twitter.com/ricoheurope
Visit
the Ricoh media centre at: www.ricoh-europe.com/press
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
“All Genetic Diseases Could be Cured within a Decade”, Hears Dubai Future Forum20.11.2025 14:15:00 CET | Press release
All known genetic diseases could be cured within the next decade thanks to major advances in gene editing, a leading scientist told the Dubai Future Forum 2025. Discussing his company’s research, Dr. Trevor Martin, Co-founder and CEO of Mammoth Biosciences, described “a one-time cure that will reshape the healthcare system as we know it.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251120548681/en/ Dubai Future Forum 2025 (Photo: AETOSWire) Opening the forum, Khalfan Belhoul, CEO of Dubai Future Foundation, introduced the concept of “national cognitive potential”, arguing that countries in the future will gain a competitive edge in fields like AI by leveraging the collective cognitive strength of their societies. In another session, Dr. Nikku Madhusudhan, Professor of Astrophysics at the University of Cambridge, said there is a “good chance” humanity will discover life on another planet—possibly in the next decade. He exp
12 Major Verification Trends in 2026: Regula on the Birth of a New Digital Identity20.11.2025 14:00:00 CET | Press release
How we verify is changing — and so is who and what we verify. Are we dealing with real people, fraudsters, or machines acting on their behalf? A new Regula report on 12 identity verification trendsexamines how these shifts are forcing businesses to rebuild their verification processes to stay ahead of fraud, comply with regulations, and regain eroding customer confidence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251120373343/en/ Identity is leaving the human domain: Regula’s forecast illustrates the emerging need to verify systems, autonomous agents, and machine customers. The new face of fraud The identity threat landscape has entered a new industrial phase, defined by three structural shifts: Machine identity. Identity verification (IDV) is no longer limited to people. It now extends to autonomous systems acting on their behalf — AI agents that can open accounts, submit documents, and bypass checks on their own. Frau
Cassidy Bio Launches with the Goal to Develop Safer, More Scalable Gene Editing Therapies20.11.2025 14:00:00 CET | Press release
AI-driven genomic foundation model integrates wet-lab validation, population-scale genomics, and advanced machine learning to improve gene editing design at scale Founding team unites CRISPR pioneers and AI leaders, supported by a world-class Scientific Advisory Board including Dr. Vic Myer (former CTO, Editas Medicine) and Dr. Saar Gill (UPenn) Cassidy Bio, a biotechnology company developing the first AI-driven genomic foundation model to enhance the design of gene editing therapies, today announced its launch and the closing of an $8 million seed financing round. The company will use the funding to advance its platform, built as a holistic solution designed to bring precision, speed, and clinical confidence to the rapidly growing field of gene therapies. Cassidy Bio’s AI-driven genomic foundation model combines proprietary wet-lab data, population-scale genomic insights, and advanced machine learning to predict the best pairings of guides, enzymes, and delivery modalities, matching t
Scientist.com Completes Acquisition by GHO Capital Partners to Accelerate Global R&D Orchestration20.11.2025 13:55:00 CET | Press release
Strategic partnership finalized, unlocking expanded AI-driven platform capabilities and international growth Scientist.com, the life sciences industry’s leading AI-enabled R&D orchestration platform, and GHO Capital Partners LLP (“GHO”), the specialist private equity investor in global healthcare, today announced the successful closing of GHO’s acquisition of Scientist.com. The transaction marks the beginning of an accelerated expansion phase, strengthening Scientist.com’s mission to transform pharmaceutical R&D by streamlining the entire outsourced research lifecycle. “This is a pivotal moment for Scientist.com and for the global research community we support,” said Kevin Lustig, CEO and Chris Petersen, CTO, the founders of Scientist.com. “Partnering with GHO, a team that shares our vision and brings deep expertise in scaling healthcare technology companies, enables us to invest aggressively in our AI-powered orchestration platform and expand our global footprint. Together, we are bet
SimpliStor™ Solid State Data Recorder Delivers High-Speed, Radiation-Tolerant Storage for Next-Generation Space Missions20.11.2025 13:00:00 CET | Press release
Frontgrade™ Technologies, a leading provider of high-reliability electronic solutions for space and national security missions, today announced the release of the SimpliStor™ Solid State Data Recorder (SSDR), a next-generation, radiation-tolerant data recorder that gives satellite operators, system integrators, and spacecraft designers a faster, smarter, and more resilient way to capture and protect mission-critical information in orbit. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251120514203/en/ Frontgrade's SimpiStor™ 2.5TB Solid-State Data Recorder High-Throughput Performance SimpliStor delivers 2.5 terabytes of storage and 10Gbps throughput in a compact 3U SpaceVPX package, combining exceptional performance with low power consumption. Users can record more data in less time, with latency under 100 microseconds and continuous “store-to-full” recording, ensuring no data loss during peak operations. A 33-minute continuo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom
