Survey: closing Italy's SME financial knowledge gap with smart tools and human expertise
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 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 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, exposing them to a potential liquidity crisis
- 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, requires POS terminals to be connected to the electronic cash register (RT) for retailers, restaurants, and other customer-facing businesses. The change is generating uncertainty among business owners, with potential fines ranging from €1,000 to €4,000 for non-compliance.
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, whether at their bank or through their 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
wamo and FidoCommercialista have partnered to help close this knowledge gap, combining digital tools that surface proactive insights with online support from human accountants. wamo customers can check FidoCommercialista's referral offer for a discount on tax and accounting support.
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% look 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, say they manage company and personal finances through separate accounts.
Here's how wamo helps: opening a wamo business account takes just a few minutes online and gives entrepreneurs clearer visibility over performance, without 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 with disconnected tools, none of which offer a complete view of liquidity, and most still require an accountant's support. Spreadsheets, invoicing platforms, and bank statements remain the most widely used tools for reconciliation and cash flow monitoring. Integrated finance solutions that combine a digital business account, invoicing, and accounting in one place 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, 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, and the data supports that preference.
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.
AI can streamline basic support, but when it comes to managing money or resolving complex financial matters, entrepreneurs still look to human experts for reassurance. wamo's own support data reflects this: of more than 6,500 support requests received between August and December 2025, only 36% were resolved via chatbot, while 64% required a real person.
Tax management tells a similar story. Technology enhances the relationship with one's accountant, but it doesn't replace it. 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 prioritise 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 navigating intricate, ever-changing regulations without always having the tools or knowledge to keep up. The survey points to a clear solution: pairing intelligent financial tools with expert guidance and education to unlock better outcomes and more financial confidence.
At wamo, we're building around exactly this: business accounts, POS solutions, and corporate cards designed around how entrepreneurs across Europe actually work, combining automated guidance with human support when it matters most. Because focusing on your business shouldn't mean struggling with financial admin.
wamo offers Italian SMEs a digital business account, invoicing, and POS payments with 0% commission on up to €10,000 in monthly transactions, all in one place.
