Nowadays, the small and
medium-sized enterprises (SME) greatly contribute towards the social and
economic wellbeing of the countries. The European Commission supports the small
and medium-sized enterprises and their creation. SME are the Europe’s economic
driving force and represent about 99 percent of all businesses in the European
Union.
The European Commission
is trying to create a business favorable and friendly environmental to SME. Also,
promotes entrepreneurship, improves access to new markets and
internationalization within the both of inside and outside of EU markets. Moreover,
European Commission is encouraging the SMEs competitiveness and innovation
through tax benefits, innovation loans and grants and promotes a better access
to the funds and finance, because the role of small and medium-sized
enterprises has significant impact on economic growth. The advantages of SME's
to economy are obvious.
First of all, small and
medium-sized enterprises contribute to the economy of creation of jobs at
relatively low capital cost, especially in the fast growing service sector. Job
creation is significant for developing and emerging countries that have high
unemployment rates. SMEs are the main providers of employment in such
countries. According
the European Commission data, in the past five years, SME have created about 85
percent of new jobs and provided two-thirds of the total private sector
employment in the European Union.
Second
of all, SME contributes to the Gross Domestic Product (GDP) and have a huge
impact on aggregate demand. SMEs contribute up to 40 percent of national income
(GDP) in emerging economies. According European Commission data, GDP growth in
the EU reflects growth in aggregate demand, for example, growth in exports
increased compared to household consumption or government expenditure, and
investment.
Moreover, SME
contribute to the reduction income inequality and poverty, promote income
generation and increase the country’s wealth. SMEs
account for about 52 percent of private sector value added. It shows a huge
contribution of private sector to the global economic. Additionally, SME promote development
of a group of skilled and semi-skilled workers as a basis for the future
industrial expansion.
To
sum up, SME
ensure economic growth, innovation, job creation and social integration in the
EU.
[artigo de opinião produzido no âmbito da unidade curricular “Economia Portuguesa e Europeia” do 3º ano do curso de Economia (1º ciclo) da EEG/UMinho]
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