Press Release: SMEs still struggled in 2013, in spite of signs of positive economic recovery

In 2013, economic conditions remained challenging for SMEs in most Member States. Economic results suggest there is a recovery, but it is uneven and not yet following a robust trajectory. These are the conclusions of the annual SMEs Performance Review and country-specific SBA factsheets published today by the European Commission. In 2013, the numbers of SMEs and their value added stood above pre-crisis levels of 2008, but SMEs’ employment was still some way below that mark since it was down by 1.9 million employees, 2.16% below the 2008 level. Furthermore, year-on-year developments call for further caution. In 2013, value added continued growing by 1.1% but this represents a continued slowdown compared to previous years’ growth rates: 1.5% in 2012 and 4.2% in 2011. In addition, the number of SMEs and the size of their workforce declined by 0.9% and 0.5% respectively, on the back of overall weak economic growth and falling inflation in the EU economy.

European Commission: RAPID: MEMO/14/549: Performance of SMEs in 2013: a fragile and incomplete recovery http://europa.eu/rapid/press-release_MEMO-14-549_en.htm

ESO: Background information: Growth prospects for SMEs are encouraging http://www.europeansources.info/record/press-release-growth-prospects-for-smes-are-encouraging/

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