Small and Medium Enterprises - Jumpstarting the jobs engine in Luxembourg and Europe

Article

Small and Medium Enterprises

Jumpstarting the jobs engine in Luxembourg and Europe

Small and Medium Enterprises (SMEs) are a large and increasingly significant economic and employment contributor in Luxembourg and Europe.

Executive Summary

In Europe, SMEs are an essential part of the economy and account for the vast majority of businesses in the EU. SMEs also represent a key pillar of the economy in Luxembourg, with over 99 percent of companies classified as SMEs, with less than 250 employees.

However, SMEs are not only relevant in terms of number of companies they are also a key economic driver in terms of GDP, value added, and employment. In fact, according to the Small Business Act (SBA) assessment of Luxembourg in 2013, the majority of private employment and value added in the country is generated by SMEs, accounting for 67 percent of employment generated in the private sector and 68 percent of the value added.

These contributions are higher in Luxembourg than in Europe as a whole and underline the particular importance of SMEs in Luxembourg.

Inside magazine Special Edition - Public Sector, December 2015

This special edition includes a variety of topics related to development such as social progress, healthcare and education, and describes issues related to resource efficiency from a demographic and societal perspective.

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