THE SMALL BUSINESS ACT FOR EUROPE AND EXPECTED MEASURES BY MEMBER STATES

The Small Business Act (SBA) for Europe adopted in 2008 and updated in 2011 reflects the Commission's political will to recognize the central role of SMEs in the EU economy. The 21 million SMEs create 58% of the value-added, employ 87 million people and account for 85% of the net job creation. SMEs also have a central role in the Commission's overall reform strategy, Europe 2020 and its flagship initiatives, in particular on Industrial policy.