European SME Observatory - Fourth Annual Report
The fourth annual report of the European SME Observatory shows that the completion of the Single Market has had a positive impact on European economic growth. Of all European companies, SMEs are most likely to actively take advantage of the new opportunities offered by the Single Market. Consequently, they have been among those benefiting the most. As these SMEs have the highest potential for job creation linked to growth, they are also a key contributor to European growth overall. The report shows that enterprise culture is more developed in Europe than in either the USA or Japan. Entrepreneurs have a greater importance in the European workforce, at around 12% of the total workforce, than in the USA or Japan. New European enterprises also have a better survival rate than in the USA, while more enterprises are created in Europe than in Japan. In addition to providing an overview of the current situation and perspectives of SMEs in the European Union, this year's report contains in-depth studies on "Women in SMEs" and "Co-operatives, mutuals, associations and foundations". The report has been produced for the European Commission by the European Network for SME Research (ENSR), and coordinated by EIM Small Business Research and Consultancy.