Abstract
Small and medium-sized enterprises (SMEs) are the backbone of the EU economy: they represent 99.8 % of EU companies, almost 60 % of GDP (total value added) and almost 70 % of the total workforce. Stefano Fontana describes the European SME landscape and also the new funding channels and actors that are rapidly entering the EU SME funding market: private loan and bond funds, selective and diversified funds (both equity and debt), and e-platforms.
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Notes
- 1.
The SMAF Index provides an indication of the changes in circumstances experienced by SMEs regarding access to funds over time in the EU and its Member States. The Index is calculated using the year 2007 = 100 as the base, allowing the comparison between different states over time. The 2007 reference base deliberately sets a boundary prior to the financial crisis.
- 2.
EBITDA or Gross Operating Margin.
- 3.
Data for Germany are not presented in the OECD study.
- 4.
The Small Business Act for Europe (SBA) is the EU’s flagship initiative to support small and medium-sized enterprises (SMEs); it includes a series of policy measures organized around ten principles ranging from entrepreneurship to internationalization and the creation of an administration attentive to the needs of SMEs.
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Oricchio, G., Lugaresi, S., Crovetto, A., Fontana, S. (2017). SMEs in Europe: An Overview. In: SME Funding. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-58608-7_2
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DOI: https://doi.org/10.1057/978-1-137-58608-7_2
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