How Many SMEs in the EU?

According to the European Commission Enterprise and Industry, there are more than 23 million SMEs in the EU, representing 99% of all European businesses.

Fact No. 1

The 23 million SMEs in the EU represent 99% of businesses, and are a key driver for economic growth, innovation, employment and social integration. The European Commission aims to promote successful entrepreneurship and improve the business environment for SMEs, to allow them to realize their full potential in today's global economy.

Fact No. 2

What is even more intriguing is that nine out of ten SMEs are actually micro enterprises with less than 10 employees. Hence, the mainstays of Europe's economy are micro firms, each providing work for two persons, in average. This is probably one of the EU's best kept secrets!

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Illustration credit here.