SMES: THE BACKBONE OF EU ECONOMY
November 1st, 2012
BY ROBERT STOKES
SMEs with between 10 and 249 employees and turnovers from EUR 2 million to EUR 50 million represent 99% of the European Union's stock of companies and employ 70% of its workers, some 75 million people. These enterprises account for 58% of total turnover in the EU. A recent European Parliament report called them 'the backbone of the European economy'. The report urged the EU to help SMEs to develop efficient internationalisation strategies to seize opportunities in the global market.
ENDS
SMEs with between 10 and 249 employees and turnovers from EUR 2 million to EUR 50 million represent 99% of the European Union's stock of companies and employ 70% of its workers, some 75 million people. These enterprises account for 58% of total turnover in the EU. A recent European Parliament report called them 'the backbone of the European economy'. The report urged the EU to help SMEs to develop efficient internationalisation strategies to seize opportunities in the global market.
ENDS
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