SMEs are independent companies with fewer than 250 employees.
They provide two out of every three private sector jobs in the European Union and are responsible for 85% of new jobs created. SMEs account for 67% of total employment and 58% of gross value added (GVA).
Latest research shows that SMEs continue to form the bedrock of the European economy, with some 20.6 million companies employing more than 87 million people. SMEs account for more than 99.8% of all enterprises.
Micro companies – defined as enterprises with fewer than 10 employees – represent the biggest share of enterprise in the EU (92%).
The European Enterprise Promotion Awards recognises and celebrates organisations and initiatives that use ground breaking, creative ways to help to create and sustain Europe’s SME and entrepreneurship community.