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Austria’s SMEs are amongst the best in Europe

2017.01.10

The EU Commission has found Austria’s SME sector to be one of the most competitive within the European Union.

The latest performance review – the Small Business Act (SBA) fact sheet 2016 – presented during the European SME Assembly in Bratislava (Slovakia) has resulted in a very satisfactory report card for Austria’s SME sector.

Austria’s SME sector proved to be one of the most adaptable, with the value added by SMEs rising by an annual average of some 3% between 2010 and 2015, amounting to a total of 16%. Employment generated by SMEs rose by 7%, with more than 122,000 new jobs created.

The EU Commission found that Austria enjoyed one of the most competitive SBA profiles in the European Union and outperformed the EU average in a total of four areas in 2016: ‘Internationalisation’, ‘Environment’, ‘Skills and Innovation’ and ‘Single Market’.

Since the introduction of the Small Business Act in 2008, Austria has managed to improve its performance in six fields. It scores in line with the EU average in all but one of the other areas, falling slightly below average only on ‘Access to Finance’.

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