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News article6 July 2023European Innovation Council and SMEs Executive Agency1 min read

Just Released: Annual Report on Performance of the European SMEs

One of the key instruments the European Commission use to track and evaluate countries’ progress in putting the small and medium enterprises (SME) strategy and the Small Business Act (SBA) into practise is the “SME Performance Evaluation.”  The review provides thorough information on the performance of SMEs with a focus on the priorities set out by the SME strategy and the SBA. It consists of two parts: An annual report on European SMEs and SME country fact sheets.

Providing a concise summary of the size, structure, and significance of SMEs to the European economy, the annual report gives an overview of both historical and projected performance trends of SMEs from 2008 to 2023.

The latest report states that the situation for EU SMEs is perilous and is expected to remain so in the foreseeable future. Due to the Covid-19 pandemic, the 24 million EU-27 SMEs as well as SMEs globally, have experienced unusual economic uncertainty and instability since early 2020.

SME Performance Review Annual Report can be found here.