SMEs have shown resilience to the effects of the pandemic – Products Eurostat News

SMEs have shown resilience to the effects of the pandemic – Products Eurostat News

Small and medium enterprises (SME) — in different phrases, companies with lower than 250 people employed — are also known as the spine of the European economic system, offering jobs and alternatives for progress.

The overwhelming majority (2020: 99%) of corporations within the EUThe non-financial enterprise economic system was composed of enterprises using lower than 49 individuals (micro and small enterprises), adopted by medium enterprises (50-249 individuals employed) with lower than 0.9% of all enterprises. In distinction, solely 0.2% of all companies employed 250 or extra individuals and have been massive companies.

This data comes from Data revealed at present by Eurostat. The article presents some conclusions drawn from the extra detailed research Statistics Explained article on structural business statistics.

Supply dataset: sbs_sc_sca_r2

Worth added decreased by 6% in 2020
In 2020, on the peak of the pandemic, many companies closed and staff have been laid off. Consequently, the non-financial market economic system introduced in 6.5 trillion euros in value added at factor cost, a big drop (-6%) in comparison with 2019 (6,900 billion euros). SMEs recorded €3.4 trillion in worth added, a smaller decline of 5% (€3.9 trillion in 2019).

The variety of individuals employed within the non-financial enterprise economic system stood at 127.7 million in 2020, down 3% from 131.5 million in 2019.

The entire variety of enterprises elevated barely to 23.4 million, a rise of 1% in comparison with 23.2 million in 2019. Nonetheless, the rise solely involved the variety of SMEs. The variety of massive corporations decreased by 3.4% (43,500 in 2019 to 42,000 in 2020).

SMEs confirmed good resilience throughout 2020, registering a decrease drop in added worth than massive corporations, and growing in quantity in comparison with the earlier 12 months.

Employment within the non-financial enterprise economic system
In 2020, the non-financial enterprise economic system within the EU had 23.3 million SMEs, contributing to greater than half of the whole added value (52%, 3,400 billion euros).

SMEs employed 82.0 million individuals in 2020, representing 64% of all staff. Greater than half of them have been employed in three financial actions: distribution business sector (19.9 million individuals, 26% of micro and small companies and 20% of medium-sized enterprise employment), manufacturing (15.3 million individuals, 14% and 32%) and building (11.2 million, 15% and eight%).

Infographic: Employment by enterprise size class in all economic activities in the EU, % of enterprises by size, by NACE Rev.  2, 2020

Supply dataset: sbs_sc_sca_r2

For extra data:

Methodological notes:

  • Financial actions as described by the Classification NACE Rev. 2.
  • The distribution enterprise consists of the wholesale and retail sale (sale with out transformation) of all varieties of items; wholesale and retail are the ultimate levels within the distribution of products. Sale with out transformation is taken into account to incorporate the same old operations (or manipulations) related to commerce, for instance, sorting, grading and assembling of products, mixing or mixing of products, bottling, packaging, breaking hundreds and repacking for distribution in smaller batches, storage, cleansing and drying of agricultural merchandise, reducing of wooden fiber panels or sheet metallic as secondary actions. Additionally included in distribution occupations is the restore of motor autos and bikes, however not the restore of different items. The distributive commerce sector doesn’t embrace any rental actions, such because the rental of motor autos, industrial gear or family items.

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