How can SMEs Help Fight Unemployment?
Friday, May 6th, 2016
It is often said SMEs are the backbone of the European economy and it is true because they include around 99% of companies in Europe. But what does that mean if we speak of jobs? How many jobs do SMEs actually provide for European citizens? According to the findings of Eurostat, SMEs provide for more than 133 million jobs in the continent, for an average of 67% of the jobs in Europe.
This means the largest majority of positions are created by small and medium size business. Consequently they are in the best position to provide opportunities to the high number of young people seeking jobs. But that is not an automatic process. SMEs employ new staff when they see a chance for growth. If they believe new markets are opening and they can get new customers, they are more likely to increase their staff to cover for the arising needs.
Only an environment conducive to business helps SMEs to create new jobs. The European Union is aware of this and supports SMEs by creating a business friendly environment and facilitating cross-border trade in the European Single Market through projects and programs. MobiliseSME is a new and innovative approach to this vision. It helps connecting SMEs in different countries through an international exchange of employees. Participating SMEs are much more likely to access markets in other countries, grow their business and hire new staff.