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). Small and medium-sized enterprises in Europe generally are businesses with no more than 500 employees and encompasses enterprises with different ownership structures and varying numbers of employees and levels of economic activity. The European Union has its own rules for its member states.
The SME market in Europe has huge potential for growth. Enterprises employing fewer than 250 persons represent 99 % of all enterprises in the EU. The European Commission considers SMEs and entrepreneurship as key to ensuring economic growth, innovation, job creation, and social integration. Small and medium-size enterprises play a hugely important role in the economy of Europe. They outnumber large firms considerably, employ vast numbers of people and are entrepreneurial in nature, helping to shape innovation and support local communities.
There are estimated to be over approximately 25.1 million small and medium-sized enterprises (SMEs) in the European Union alone, with the vast majority of these enterprises micro-sized firms which employ fewer than nine people. Over 1.47 million enterprises are small firms with between 10 and 49 employees and over 236,000 are medium-sized firms that have between 50 to 249 employees.
Europe has a population of over 747,356,557 people.
Europe has recently had a GDP of over $18.292 trillion.
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.