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The SME Market in Montenegro

What is a Small to Medium Enterprise in Montenegro?

Small and medium enterprises (SMEs) are businesses that maintain revenues, assets or a number of employees between certain thresholds. Each country has its own definition of what constitutes a small and medium-sized enterprise (SME). Certain size criteria must be met and occasionally the industry in which the company operates in is taken into account as well.

SMEs in Europe are defined as having a Staff head-count of between 10 and 250 employees, or a sales turnover (revenue) of between €2 m EUR and €50 m EUR, or a Balance sheet total of between €2 m EUR and €43 m EUR (assets).

Small and medium-sized enterprises (SMEs) are the backbone of Europe's economy. They represent 99% of all businesses in the EU. They employ around 100 million people, account for more than half of Europe’s GDP and play a key role in adding value in every sector of the economy. SMEs bring innovative solutions to challenges like climate change, resource efficiency and social cohesion and help spread this innovation throughout Europe’s regions. They are therefore central to the EU’s twin transitions to a sustainable and digital economy. They are essential to Europe’s competitiveness and prosperity, industrial ecosystems, economic and technological sovereignty, and resilience to external shocks.

🇲🇪 EUR [1.196 GBP]

Europe/Podgorica

Image: Bjørn Christian Tørrissen

How big is the SME Market in Montenegro?

Small and medium-size enterprises play an important role in the economy of Montenegro. They outnumber large firms considerably, employ large numbers of people and are entrepreneurial in nature, helping to shape innovation and support local communities.

Montenegro has a population of over 622,100 people.

What help is available for SMEs in Montenegro?

Help for small and medium enterprises (SMEs) includes virtual peer-to-peer advisory boards. With our blended model utilising Zoom and supplemented by in person meetings we are able to support and grow businesses anywhere in the world. Our growing network of Regional Directors ensure that we have suitable people to help you whatever your language or time zone.

The Small Business Act for Europe (SBA) is the EU’s flagship policy initiative to support small and medium-sized enterprises, It comprises a set of policy measures organised around 10 principles ranging from entrepreneurship and ‘responsive administration’ to internationalisation.

Entrepreneurship and SMEs

The Small Business Act for Europe (SBA)

Europe

Help for small and medium enterprises (SMEs) includes virtual peer-to-peer advisory boards. With our blended model utilising Zoom and supplemented by in person meetings we are able to support and grow businesses anywhere in the world. Our growing network of Regional Directors ensure that we have suitable people to help you whatever your language or time zone.

The Small Business Act for Europe (SBA) is the EU’s flagship policy initiative to support small and medium-sized enterprises, It comprises a set of policy measures organised around 10 principles ranging from entrepreneurship and ‘responsive administration’ to internationalisation.

Mark Horner

The SME Market in Montenegro

What is a Small to Medium Enterprise in Montenegro?

How big is the SME Market in Montenegro?

What help is available for SMEs in Montenegro?

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