Annual report on European SMEs

Every year, an annual report is prepared by the EU on SMEs and their impact on the European economy. The report provides a synopsis of the size, structure, and importance of the SMEs as well as an overview of the past and the forecasted performance of SMEs. For the 2018 annual report on SMEs, here are the most important points as well as key messages that we can focus on:

  1. SMEs on the European area continue to recover and grow. After a short period of time during which SMEs deteriorated, they appear to get active once again and are starting to become a steady value for the European economy.
  2. They continue to contribute to local as well as national growth. They add value and create new job positions. According to the 2018 annual report they exceed the expected level.
  3. The performance of SMEs across Europe continues to vary. Although Member States are generating more SME value, they are still not able to go beyond the highest point of their 2008 state.
  4. After the financial crisis and the 2014-2016 economic recovery, EU member stated present an increase of 24% in SMEs and high-growth firms. However, two-thirds of these SMEs come from only six Member States of the EU. Germany, the United Kingdom, Spain, France, Italy, and Poland.
  5. There is a positive view for the 2018-2019 period but there are still factors that could affect the evolution of SMEs in Europe. That is due to unsettled international trade conditions
  6. The exports of EU-28 SME has increased all the way to 20% since 2012. That internationalization has contributed to European growth
  7. It has been noticed that although the indirect contribution of SMEs is of great economic significance, it is frequently underestimated.

These are just some of the many changes that can be found in the Annual report for European SMEs. By reading the complete report, we can notice that although there are some major changes happening and although SMEs are growing fast in Europe, they are still not able to reach the results of the US or Asian SMEs.

The financial crisis is still affecting many different sectors. As a result, SME owners still find it very difficult to evolve professionally. There is always room for improvement and with the changes in European policies, SME is getting one step closer to achieving maximum results.

Every year, the report has more information to offer. Current changes in SMEs have nothing but positive results to show. To every aspiring business owner, this report can help give them a good idea about the course of the European market. That alone is enough to help them understand what they should do to evolve their business. Perhaps even give them a few ideas about how they can bring innovation into their business or even turn it to a different direction.

As an aspiring business or Small and Medium Enterprise owner, you should make sure to get informed about everything regarding your field of action. The European reports are certainly the right source of information for you.

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Thodoris Alexandrou
Financial Officer

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