Entrepreneurship and SMEs in Europe

Small and medium-sized enterprises (SMEs) are the backbone of the economy throughout Europe. 99% of the companies based there fall into this category, which is defined as companies with fewer than 250 employees and an annual turnover of less than 50 million euros. In Europe, approximately 100 million people work in a small or medium-sized enterprise. SMEs exist in all industries. Many innovations and processes originate from the work of SMEs. Sustainable business, competitiveness, resource efficiency and social cohesion depend to a large extent on strong SMEs. All SMEs together generate more than half of Europe's GDP. They are the pillar on which European prosperity rests. 

How to support SMEs and further promote (small) entrepreneurship in Europe is being discussed at the highest level in the European Commission. Read more here about what measures the European Commission is planning to strengthen SMEs and help them overcome the aftermath of the Covid-19 pandemic.

What can the Arab region learn from Europe in this regard?