Assessing the Implementation of the Small Business Act for Europe
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.