Austria’s SME sector is one the most competitive in the entire EU, according to the European Commission.

Presented in the Estonian capital Tallinn, the latest performance review – the Small Business Act (SBA) fact sheet 2017 – gave Austria’s SME sector a glowing report.

Between 2012 and 2016 the value added by SMEs rose by 11% and employment generated by SMEs by 4.8%. Moderate SME growth is expected to continue in 2016-2018, with value added rising by 7.4 % and employment by 2.6 %.

The EU Commission found that Austria enjoyed one of the most competitive SBA profiles in the European Union and outperformed the EU average in no less than four areas: ‘Internationalisation’, ‘Environment’, ‘Skills and Innovation’ and ‘Single Market’. In the areas of single market and internationalisation Austria is even a top-three performer, whereas in the remaining areas, it is on a par with the EU average.

Source: Advantage Austria