Competitiveness has become the defining ambition of Europe's new policy cycle. It is the common thread running through discussions on industrial policy, strategic technologies, the future Multiannual Financial Framework, capital markets, defence, energy and innovation. Across all these debates, one objective stands out: ensuring that Europe remains an attractive place to invest, innovate and do business in an increasingly competitive world
Much of this agenda rightly focuses on Europe's ability to create the next generation of global champions. Europe needs more companies capable of scaling breakthrough ideas into global businesses. It needs stronger industrial leadership, greater technological sovereignty and deeper capital markets able to finance innovation. Closing Europe's innovation gap is not simply desirable - it is essential.
But this is only part of the story.
Europe's competitiveness will not be determined only by the success of a relatively small number of exceptional companies. It will also depend on the ability of millions of existing businesses to become more productive, more innovative and better connected.
Nearly 99% of European enterprises are SMEs. They are manufacturers, family businesses, retailers, logistics operators, tourism companies, specialised suppliers, professional services firms and artisans. Few of them will ever become unicorns. That is not their role. Their contribution lies elsewhere: they generate employment, sustain local communities, preserve industrial know-how and give resilience to Europe's economy.
The question, therefore, is not whether Europe should support tomorrow's champions or today's SMEs. It must do both.
Great companies do not emerge in isolation. They grow within ecosystems composed of suppliers, customers, research organisations, investors and thousands of smaller firms that adopt new technologies, develop specialised capabilities and participate in increasingly sophisticated value chains. Innovation creates value only when it spreads. Competitiveness is not built at the top and then distributed across the economy; it grows when the entire productive fabric becomes stronger.
This is perhaps Europe's greatest challenge.
Our innovation gap is also a diffusion gap. Europe has produced world-class research, successful entrepreneurs and globally competitive industries. Yet too often innovation reaches only a limited number of firms, while millions of everyday businesses struggle to adopt new technologies, access finance, find skilled workers or navigate an increasingly complex regulatory environment. Raising the productivity of these businesses may not attract headlines, but it is one of the most powerful drivers of sustainable growth.
This is where public policy makes the greatest difference.
Competitiveness is built long before companies enter the market. It depends on the quality of education and skills, on efficient infrastructure, on a well-functioning Single Market, on access to finance, on proportionate regulation and on institutions capable of creating trust and reducing uncertainty. Above all, it depends on whether businesses are equipped to understand and seize the opportunities that these policies create.
This is also where Chambers of Commerce have a unique responsibility.
Their role is not simply to represent businesses or deliver services. It is to accelerate the diffusion of opportunity. Chambers help enterprises understand European policies, access funding programmes, embrace innovation, build international partnerships and anticipate change. In doing so, they make Europe's competitiveness strategy more inclusive, ensuring that opportunities are not captured only by those already equipped to seize them.
As Ireland assumes the Presidency of the Council of the European Union, many of the decisions that will shape Europe's economic future are entering a crucial phase. The Presidency's role will be to facilitate agreement on an ambitious agenda. Ours is different, but equally important: ensuring that the Italian Chamber system - and through it, thousands of businesses - is ready to turn those decisions into growth, investment and jobs.
At Unioncamere Europa, we believe that Europe's future will not be secured by choosing between excellence and inclusion. It will be secured by connecting the two.
Europe certainly needs more global champions. But it also needs millions of everyday businesses that are a little more productive, a little more innovative and a little more confident in embracing change.
Because that is where Europe's competitiveness is ultimately built.
Ana Sarateanu
Director of Unioncamere Europa