How is SME day celebrated?

On SME Day, organizations related to the business sector hold different events in order to promote the creation or growth of small businesses . These events include talks, debates and SME assistance programs to facilitate access to financing .

When did SMEs originate?

Although SMEs have no specific origin, their start is usually attributed to post-World War II Europe , when it was necessary to create small companies to recover from the disasters of the war. In Spain, the small business fabric began to take hold in the 1980s.

Why are SMEs considered the engine of the economy?

According to the UN, in most countries, SMEs account for over 90% of the business fabric , generate around 65% of all jobs, and are responsible for 50% of the world's gross domestic product (GDP). They also guarantee social stability by reducing poverty. In the case of Spain, according to data from the Cifras PYME report, this type of business accounts for more than 99.8% of all companies, and employs over 10 million people (65% of the total) , spanning all the country's production sectors.

When is a company an SME?

A company is considered an SME when it meets the following two requirements laid out by European law: Have fewer than 250 employees . Invoice under 50 million euros a year or have an annual balance sheet of less than 43 million euros.

What types of small and medium-sized enterprises are there?

According to the requirements laid out by European law, there are three types of SMEs: Micro-businesses: they have fewer than 10 people on staff and their annual turnover or annual balance sheet does not exceed 2 million euros. Small businesses: they have fewer than 50 people on staff and their annual turnover or annual balance sheet does not exceed 10 million euros. Medium-sized companies: they have fewer than 250 people on staff and their annual turnover or annual balance sheet does not exceed 43 million euros.

How do SMEs secure financing?

It's common for an SME to need more money than it has available to start, grow or expand. Banks offer different financing solutions: Credit lines give them liquidity for their everyday operations. Loans are the easiest solution to start or make a large investment. Renting and leasing are financing methods that are in high demand by SMEs, since they allow premises and industrial materials to be leased instead of purchased. There are different public aids and subsidies for SMEs depending on the sector and characteristics. The Directorate-General of Industry and SME has a directory to search for the public grants available.

June 27

SME Day

Celebrate with us European SME day.

What is Small and Medium-sized Enterprises Day?

SME Day recognizes the importance of small and medium-sized enterprises in the global economy. This day also highlights their role in achieving the sustainable development goals, as well as the need to give these small and medium-sized enterprises improved financing and credit facilities.

When is SME Day?

This year, SME Day is observed on June 27, a date proposed to the UN by Argentina (with the support of 54 member states) in 2017, and which has remained unchanged since then.

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Micro-, Small and Medium-sized Enterprises Day is held on June 27 in every United Nations member state.

This day was promoted by the UN on April 6, 2017 to acknowledge the role these companies play in creating jobs, boosting the economy and contributing to sustainable development.

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