A new approach towards SME’s consideration

Abstract

The definition of an SME may vary from country to country (for example, the definition in Germany has a limit of 255 employees, while in Belgium it can be 100), but in all of them they are regarded as the key drivers of the economy and represent its backbone. Indeed, SMEs provide innovations spread throughout regions to solve a series of challenges like unequal development, climate change, resource efficiency and social cohesion. In addition, they involve: job creation; unemployment reduction; significant contribution to growth in GDP; sustainable spatial growth; needed money flow; the seed to form large companies; and the development of appropriate technology.