Small and medium-sized enterprises (SMEs) are a driving force for economic development across the globe. They create new jobs, products and services, making a significant contribution to economic growth. Europe’s 23 million smaller firms represent 99.8% of non-financial businesses and provide around two-thirds of all jobs. Often more flexible than bigger companies, small firms are also key drivers of innovation. According to the EIB Investment Survey, the COVID-19 pandemic ushered in a new era of digitalisation, and European firms have been racing to catch up. At the same time, firms are concerned about the effects of climate change on their operations and on future opportunities. The facts, figures and project highlights in this 2022 overview illustrate the European Investment Bank’s activities and key projects in the sector.

Small and medium-sized enterprises (SMEs) are a driving force for economic development across the globe. They create new jobs, products and services, making a significant contribution to economic growth. Europe’s 23 million smaller firms represent 99.8% of non-financial businesses and provide around two-thirds of all jobs. Often more flexible than bigger companies, small firms are also key drivers of innovation. According to the EIB Investment Survey, the COVID-19 pandemic ushered in a new era of digitalisation, and European firms have been racing to catch up. At the same time, firms are concerned about the effects of climate change on their operations and on future opportunities. The facts, figures and project highlights in this 2022 overview illustrate the European Investment Bank’s activities and key projects in the sector.