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Austria’s SMEs are amongst the best in Europe

2019.02.14

Austria’s SME sector is one of the most competitive in the entire EU, according to the European Commission.

Presented in the Graz, Austria, the latest performance review – the Small Business Act (SBA) fact sheet 2018 – gave Austria’s SME sector a glowing report.

Between 2013 and 2017 the value added by SMEs rose by 13.2% and employment generated by SMEs by 4.8%. Moderate SME growth is expected to continue in 2017-2019, with value added rising by 9.3 % and employment by 3.3 %, resulting in an estimated 64,100 additional SME jobs..

The EU Commission found that Austria enjoyed one of the most competitive SBA profiles in the European Union and outperformed the EU average in no less than four areas: ‘Internationalisation’, ‘Environment’, ‘Skills and Innovation’ and ‘Single Market’. In the area of single market Austria is the third strongest Member State, and regarding environment it even tops the rankings. In the remaining areas, it is on a par with the EU average.

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