Development of Small and Medium Enterprises

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Long-term sustainable economic growth and job creation can best be achieved through the development of a vibrant entrepreneurial sector. Small and Medium Enterprises (SMEs) indisputably play a crucial role in this process, and are today recognised as a key driver of growth and a catalyst for social improvements. In due consideration of their pivotal role, public authorities across the developed and developing world are placing increased emphasis on the nurturing of appropriate conditions for SME development.

European Profiles has, since its establishment, been actively engaged in assisting governments in this field, by providing advice on improvements of the regulatory and legal environment, stimulation of business consultancy advice for SMEs and the introduction of innovative schemes for SMEs support. Some of the countries where European Profiles has been actively supported SME development include the Russian Federation, Lithuania, Hungary, Bulgaria, Slovenia, Ukraine and Greece.

Our approach in the field is founded on the premise that the promotion of entrepreneurship is a process rather than an end result. It requires targeted market-based interventions and should be driven by demand, reflecting the needs of the private sector. To address this, we provide advice on various different levels and domains.

On a policy level, we assist governments to draw from international best practice in designing and implementing tailored policies and strategies for SME development both at national and regional level. On an institutional level, we support the development of innovative schemes and institutions such as SME support organisations, observatories, as well as various intermediaries to support access to finance, technology transfer and innovation. On a ground level, we support the build up of new skills and techniques within the SME sector and assist in the launch of new ways of doing business including cluster development, export promotion and innovation-oriented support schemes.

Across all our efforts in the field, we strive to develop and solidify strong working partnerships with a wide range of actors both in the public and private domain. We consider this as crucial to the sustainability of our work, both in raising awareness over the role of SMEs and in enhancing ownership in overall efforts.

Our clients value both our determination to develop sustainable techniques, schemes and institutions, as well as our commitment to demand driven solutions which promote entrepreneurship while bridging private and public sectors.