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The Small and Medium Sized Enterprise (SME) sector is the motor of most European economies. If we use the EC definition of SME (less than 250 employees plus some other criteria), they account for the vast majority of enterprises in the European Union, and more than 60% of employment. Most countries spend some effort in supporting the SME sector, both through public financing and by mutual self help organisations (chambers of commerce etc.). Equally, when we talk of regional development and the use of the EU Structural Funds, support to SME is seen as a major part of economic regeneration and employment creation. SME policy is often a strange subject, however, since there is no particular objective of increasing the number of SMEs - rather the support of SMEs and the growth of the sector is a means to a wider objective, such as job creation or economic growth. This means that putting together SME policy statements is surprisingly difficult, and most countries have not succeeded in have a written policy document. |
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