Sme Policy Index Western Balkans And Turkey 2022 Assessing The Implementation Of The Small Business Act For Europe

Small and medium-sized enterprises (SMEs) are essential drivers of sustainable economic growth in the Western Balkans and Turkey, where they make up 99% of all firms, generate 65% value added and account for 75% of employment. Nevertheless, SMEs across the region continue to face obstacles such as difficulties accessing financing, low levels of digital uptake, regulatory barriers and relatively low participation in international trade.

Small and medium-sized enterprises (SMEs) are essential drivers of sustainable economic growth in the Western Balkans and Turkey, where they make up 99% of all firms, generate 65% value added and account for 75% of employment. Nevertheless, SMEs across the region continue to face obstacles such as difficulties accessing financing, low levels of digital uptake, regulatory barriers and relatively low participation in international trade. The situation has been further exacerbated by the COVID-19 pandemic: SMEs found themselves fighting for survival amidst reduced demand, lockdowns and travel restrictions, and supply chain disruptions. This report provides an overview of the implementation of the Small Business Act for Europe during the period 2019-22. It is designed to help policy makers design, implement and monitor policies to support the recovery of SMEs from the pandemic, boost their competitiveness based on OECD and EU good practices, and further enhance the region's economic growth and resilience.

Small and medium-sized enterprises (SMEs) are essential drivers of sustainable economic growth in the Western Balkans and Turkey, where they make up 99% of all firms, generate 65% value added and account for 75% of employment. Nevertheless, SMEs across the region continue to face obstacles such as difficulties accessing financing, low levels of digital uptake, regulatory barriers and relatively low participation in international trade. The situation has been further exacerbated by the COVID-19 pandemic: SMEs found themselves fighting for survival amidst reduced demand, lockdowns and travel restrictions, and supply chain disruptions. This report provides an overview of the implementation of the Small Business Act for Europe during the period 2019-22. It is designed to help policy makers design, implement and monitor policies to support the recovery of SMEs from the pandemic, boost their competitiveness based on OECD and EU good practices, and further enhance the region's economic growth and resilience.

The SME Policy Index is a benchmarking tool designed for emerging economies to assess SME policy frameworks and monitor progress in policy implementation over time.

Robust SME sectors are critical to the prosperity of the six Western Balkan economies and Turkey, accounting for over 70% of those employed in the business sector and generating 65% of value added in these seven economies. Yet their potential remains untapped, as SMEs across the region grapple ...

The development of a dynamic and vibrant SME sector is of paramount importance for the seven EU pre-accession economies: Albania, Bosnia and Herzegovina, Kosovo, the Former Yugoslav Republic of Macedonia, Montenegro, Serbia, and Turkey. The region's productive structure is predominately composed of small and medium-sized enterprises (SMEs), which on average contribute to 75% of total employment and over 60% of total private-sector value added. Nevertheless, important challenges remain to transform the SME sector into a driver of economic growth and employment and to address persistent structural challenges such as high unemployment rates and the per capita income gap. However some of the conditions to leverage growth are already in place. First, the economies of the Western Balkans and Turkey (WBT) are covered by the current EU enlargement agenda. The EU's enlargement policy deals with the countries currently aspiring to become members of the European Union.^The EU's enlargement policy is an investment in peace, security and stability in Europe. It provides increased economic and trade opportunities to the mutual benefit of the EU and the aspiring member states. Second, SMEs in the Western Balkans and Turkey face a unique set of opportunities for business expansion. The region has made considerable progress on economic integration with the European Union, whose single market is the largest in the world, serving 500 million citizens and generating 23% of world GDP. The implementation of the Central European Free- Trade Area (CEFTA), a regional free-trade agreement comprising all the Western Balkan economies and the Republic of Moldova, and a network of free trade agreements between Turkey and the Western Balkans, have further expanded market access.^Third, the Western Balkans are advancing their transition to a market-based economic system, in particular with regard to liberalising and opening up their economies, while Turkey's economic reforms have contributed to deregulating and expanding its internal market. SME policy simultaneously targets changes in the economic structure and improvements in the business climate in general and enterprise growth potential in particular. The SME Policy Index assesses progress in implementing the ten principles of the Small Business Act for Europe (SBA) and compares the evolution in policy and remaining challenges across the region while providing guidelines for reform for each economy. This SME Policy Index, the fourth since 2007, sheds light on SME policy development over the past decade.

This book provides a comparative overview across the region for SME policy development.

Robust SME sectors are critical to the prosperity of the six Western Balkan economies and Turkey, accounting for over 70% of those employed in the business sector and generating 65% of value added in these seven economies. Yet their potential remains untapped, as SMEs across the region grapple with numerous challenges that hamper their growth and productivity. They are still under-represented in international trade, and their contributions to value-added remain comparatively low as they have difficulties in moving or expanding into high value-added activities. This report provides a comprehensive overview of the implementation of the ten principles of the Small Business Act for Europe (SBA) in the seven EU pre-accession economies over the period 2016-18. It monitors progress against similar assessments performed over the past decade and identifies the outstanding challenges affecting SMEs. It also provides targeted recommendations to remove barriers to SME development and unleashing their potential for driving inclusive economic growth.