A new study on the impact of SMEs on the EU labour market was published by the European Commission on 16 January 2012. It aimed at analysing the important role small and medium sized enterprises play in creating more and better jobs.
SMEs provide a vital contribution to the European economy, responsible for more than two-thirds of the total employment in the private sectors and 85% of the net job growth. Given their importance in the European economy, they are also essential for economic recovery and for reducing the negative employment effects of the crisis.
The report not only shows that SMEs contribute to more and better jobs, but also that innovation strengthens competitiveness and has proved to be a good defense against the crisis.
Innovative countries have experienced fewer negative impacts of the economic crisis, and companies in more innovative economies have suffered less from the crisis than those in less innovative economies. In innovative economies, companies are less likely to mention a reduction in the demand for their products, more likely to report an increase in the demand for their products, and the labour market is still relatively tight.
The European medical technology industry is comprised primarily of SMEs, which make up 80% of the industry. The sector is therefore a major provider of jobs, especially highly skilled jobs in research and manufacturing, and employs over 500,000 people across Europe.
In March 2011, Eucomed published a position paper highlithing the specificities of medical technology SMEs and the challenges that they face. Recommendations to remove barriers and allow them to fully unleash their potential were also part of the document.
