From the web designer who makes brands shine online to the owner of a decades-old textile mill who can identify fabric by touch alone, small business owners need to be experts in their fields to succeed. But what if that expertise doesn’t actually extend to the financial side of running a business, like managing cash flow, negotiating better fees, or planning for expenses?
This isn’t hypothetical. A recent survey of small business owners in Italy reveals a significant gap in financial knowledge.
Conducted by wamo and FidoCommercialista in November 2025, the survey of 103 SMEs found that 33% of Italian entrepreneurs show only a low to medium levels of basic financial knowledge. The gap is even more evident among women, freelancers, and entrepreneurs under 35.
- More than 20% of business owners don’t know their current cash position, which exposes them to a potential liquidity crises
- 17% are unable to calculate an interest rate
- 57% don’t know what their 2026 POS fees are
Despite the steady growth of digital payments, POS fees are often perceived as much higher than they actually are.
- Only 43% of respondents are able to estimate POS fees correctly
- 23% believe POS fees are roughly double their actual amount, with 6% estimating triple or more
- 28% of SMEs say they do not know how to calculate POS fees at all
This isn’t about intelligence. It’s about bandwidth and complexity. Running a business day-to-day leaves little time for managing the numbers, and in Italy, SMEs must also navigate one of the most complex and constantly evolving tax systems in Europe.
The latest regulatory change, effective from 1 January 2026, concerns POS terminals and the obligation to connect them to the electronic cash register (RT) for retailers, restaurants, and all customer-facing businesses. This new compliance requirement is generating uncertainty and concern, with potential fines ranging from €1,000 to €4,000.
Financial and tax skills: where Italian SMEs need support
This may explain why 60% of respondents say the most important factor for a company’s financial health is having access to tailored online support from real people, either at one’s bank or through one’s accountant.
Many founders say they do not directly manage tax matters:
- 26% fully delegate accounting activities to their accountant
- 69% rely entirely on their accountants for VAT and social contribution deadlines
- 3% say they don’t know when those deadlines occur
[FidoCommercialista and wamo have partnered to help close this knowledge gap by combining digital tools that provide proactive insights with online support from human experts. New customers can benefit for one year from preferential conditions, including a digital business account, commission-free POS for three years up to €10,000 in monthly transactions, cashback on eligible purchases with Visa debit cards, VAT number setup, and tax management. Click here to activate the offer.]
Business and personal accounts: still mixed for half of Italian entrepreneurs
The survey highlights significant room for improvement in the financial habits of Italian businesses, even though many respondents perform well in specific areas.
Almost half (46%) of entrepreneurs say they use their bank accounts interchangeably:
- 9% make personal purchases using their business account
- 5% carry out business transactions through their personal account
- 32% operate with a single account for all expenses and income
Although 48% of entrepreneurs check their cash position daily, and 31% look at it weekly, many still lack effective cash flow control:
- 6% reviewed their cash position only last month
- 9% looks at it only when problems arise
- 7% say they never monitor it at all
However, the data clearly shows that separating business and personal finances is beneficial.
Sixty-one percent of entrepreneurs who improved their business results over the past year and 51% of those who remained stable, report that they manage company and personal finances through separate accounts.
[Opening a wamo business account in just 10 minutes can help entrepreneurs gain clearer visibility over performance and avoid the complexity of mixed cash flows.]
Manual processes still dominate business accounts, invoice reconciliation
Despite the growth of digital payments, accounting digitalisation remains limited. Fifty-two percent of companies still manage most financial processes manually or use disconnected tools — all of which fail to provide a complete view of liquidity and often require support from an accountant. Spreadsheets, invoicing platforms, and bank statements remain the most widely used tools for reconciliation and cash flow monitoring. Meanwhile, integrated finance solutions that combine digital business accounts, invoicing, and accounting tools account for just 21% of usage.
Italian SMEs show strong skills in managing bank credit
There are also positive signals in the data. Managing bank credit is where Italian SMEs and professionals appear well-prepared. Fifty-seven percent are able to deal effectively with banks in the event of delayed loan repayments, while 23% work with their accountant to find sustainable solutions, and 18% leverage guarantees such as unpaid invoices.
Credit management is still largely handled with the help of human advisors. For sensitive financial matters, like concerns about liquidity or loan conditions, Italian entrepreneurs prefer to negotiate and receive explanations in person. The data supports this approach.
Entrepreneurs want human support, not chatbots
For 60% of business owners, receiving tailored online support from real people at their bank is the most important factor for financial well-being, followed by technologies that proactively suggest actions to prevent issues, at 29%. Only 7% expect support from AI assistants.
While AI can streamline basic support processes, when it comes to managing money or addressing complex financial matters, entrepreneurs seek reassurance from human experts. Support data from wamo reinforces this: of more than 6,500 support requests received between August and December 2025, only 36% were resolved via chatbots, while 64% required real people.
Tax management tells a similar story. Technology enhances, but does not replace, the relationship with one’s accountant. When asked what they need for their company’s financial health:
- 59% expect personalised digital support combined with human advisors
- 31% value automated alerts and recommendations
- 20% still prioritize traditional in-office consulting
- 17% prefer to delegate all financial and tax responsibilities to their accountant.
- Less than 3% rely on AI-only assistance
Bridging the gap with intelligent tools and human support
Running a business is complex, and that’s especially true for Italian small business owners. They are navigating intricate and ever-changing regulations without the tools and knowledge to support them. The survey reveals that the right combination — intelligent financial tools paired with expert guidance and education — can unlock better business outcomes and financial confidence.
At wamo, we’re leading the way with this approach: Our business accounts, POS solutions, corporate cards, and other financial tools are designed around how entrepreneurs across Europe actually work, combining automated guidance with expert human support. Because focusing on your business shouldn’t mean struggling with financial management.
Partner with wamo and FidoCommercialista
Are you launching your business and looking for a partner to guide you through the first steps? Open your wamo account today and access the FidoCommercialista offer.
New customers receive one year of exclusive benefits:
- Digital business account with intelligent insights
- Commission-free POS for three years (up to €10,000 monthly)
- Cashback on eligible Visa debit purchases
- VAT setup and tax management support
Open your wamo account today.
