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Austria represented at UN MSME Day as international best-practise

July 13, 2018

Last year, the UN General Assembly designated 27 June every year as Micro-, Small and Medium-Sized Enterprises Day (MSME Day)

This year’s MSME day - organized and hosted by the ITC in NYC - was dedicated to youth empowerment through entrepreneurship and employment and it was a pleasure and honor to represent Austria at the UN headquarters as an international best-practice system and benchmark.

Few economies in the world are as strongly shaped by MSMEs as Austria, where 99,6% of companies are considered small- and medium-sized enterprises constituting the backbone and foundation of our economy, accounting for over 60% of the Austrian GDP, half of our exports and employing almost 2/3 of the workforce.

In combination with Austria’s long tradition of dual education and strong focus on apprenticeships (also as a stepping stone towards entrepreneurship), youth unemployment has for many years been one of the lowest in the EU. 35% of company founders have been apprentices themselves. 

For more information on the Austrian dual education system please see the attached presentation.

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