Annual Report on European SMEs 2016/17

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(CC) European SMEs 2016-17/ECThe European Commission has recently launched the 2016/2017 Annual Report on European SMEs. It presents good news: Small and medium-sized enterprises recovery continues.

The annual report, prepared on a yearly basis, provides a synopsis of the size, structure and importance of SMEs to the European economy and an overview of the past and forecasted performance of SMEs from 2008 to 2018. Comparisons with partner countries outside the EU and with the large enterprise sector are also included.

The 3 main performance indicators used to measure SME activity are the number of SMEs, the level of SME employment and SME value added (the gross income from operating activities after adjusting for operating subsidies and indirect taxes). In 2016,  EU SME employment level surpassed the 2008 level by 0.6% and EU SME value added in 2016 was 11% higher than 2008. Employment recovery was most dynamic in services industries. In previous years, the main driver for SME recovery was exports but in 2016 recovery increased due to higher final demand (i.e. household and government consumption, exports of goods and services, as well as capital investment by households, governments and businesses).

Download the full report here.