The Role of the Public Sector
Small and medium-sized enterprises (SMEs) play an essential role in the economy internationally and above all in Europe, where over 20 million SMEs account for around two-thirds of jobs and half of turnover in the non-agricultural business sectors. SMEs’ contribution to growth and employment, not to mention innovation, makes them key players in the achievement of the Lisbon Strategy goals (European Investment Bank, 2005). At the same time, restrictions on SMEs’ access to external finance create undesirable obstacles to employment and growth.
KeywordsVenture Capital Private Equity Venture Capital Fund Risk Capital Small Business Innovation Research
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