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European Commission's annual report on European SMEs 2012/2013 sees recovery on the horizon

date of publication > 25-February-2014

The European Commission recently released a new report entitled A Recovery on the Horizon? Annual Report on European SMEs which aims at providing an overview of the current status of European SMEs, a component of the European economy which is directly addressed by the Eurostars programme and the EU's SME instrument. The structure of SMEs, their contribution to employment and to the wealth of the European Union are being investigated in the report. Another purpose of the document is to analyse how and to what extent SMEs are recovering from the economic crisis and the sector’s outlook.

According to the report, European SMEs are currently recording growth in real added value. The forecasts for the next two years indicate that SMEs in the services sector as well as in manufacturing will continue to grow in terms of employment and business. Another finding is that the consequences of the crisis were not distributed homogenously, trends for recovery being diverse amongst EU member states. SMEs in countries with sound structural characteristics have withstood the economic crisis relatively better and are expected to recover more quickly in comparison to other countries.

Read the full report on the European Commission's website.