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- W2168912043 abstract "textabstractEntrepreneurship and SMEs have emerged as the engine of economic and social development throughout theworld. The role of entrepreneurship has changed dramatically and fundamentally, so that it is now seen as arequisite ingredient generating employment, economic growth and international competitiveness in the globaleconomy. The purpose of this report is first to explain why the role of SMEs is crucial for international competitivenessand a strong economic performance in Europe, and then to document the role that SMEs play inEurope.Entrepreneurship and SMEs are related but certainly not identical concepts. Entrepreneurs, for example, are themain drivers of the firm creation process where young and small firms play a role. On the other hand, the entrepreneurialenergy of a country, region or industry is often described using phenomena such as firm creation andturbulence (Carree and Thurik, 2003).The impact that SMEs have on economic performance in Europe is explained in Chapter 2. A careful measurementof the structure and role of SMEs is required to understand the different roles that SMEs play and howthese roles are evolving throughout Europe. In particular, a measurement of SME activity in Europe provides (inSection 3.1) what the (static) role of SMEs is in Europe, how the role of SMEs varies across specific countries andhow it is benchmarked against the other major areas in the world. How the economic role of SMEs has beenchanging over time is presented in Section 3.2.The way in which the measurement of the structure and role of SMEs is set up hinges on two views: first it attemptsto illustrate the theory-based results surveyed in Chapter 2. Second, it is in line with the measurementsgiven in earlier versions of the SME Observatory reports 'SMEs in Europe'.A report about SMEs in Europe would however not be complete if no attention is paid to the current economicsetting. The European economy is recovering from an economic downturn. Very little information is availableabout the roles of SMEs in the business cycle and in particular how do SMEs respond to economic adversity. Thisissue is dealt with in Chapter 4.Finally a Synthesis is presented in Chapter 5." @default.
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- W2168912043 date "2004-01-01" @default.
- W2168912043 modified "2023-09-28" @default.
- W2168912043 title "SMEs in Europe 2003" @default.
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