Russian small- and medium-sized enterprises (SMEs) accounted for over a fifth of the country's gross domestic product (GDP) in 2023. SMEs slightly increased their contribution to the country's economy compared to the previous year.

Small and medium enterprises (SMEs) contributed to ** percent of the cumulative GDP growth in Italy after the 2008 economic recession. This statistic breaks down this figure by company size. According to data, micro SMEs held the largest percentage of influence to the GDP growth (**** percent), whereas small SMEs recorded a contribution rate of *** percent between 2009 and 2017.

This statistic describes the share of gross domestic product contribution (GDP) of small and medium enterprises (SME) in the Gulf Cooperation Council in 2016, by country. As of 2016, 30 percent of the GDP in Bahrain was contributed by small and medium sized enterprises.

As of 2023, small and medium size enterprises in Saudi Arabia comprised **** percent of the total GDP in the country. This was an *** percent increase from its base, but still below its Vision 2030 goal of ** percent.

CONTRIBUTION OF SMEs TO GDP

In 2023, it was estimated that TikTok facilitated or supported the creation of over 51,000 jobs across five of the major markets in Europe. Small and medium-sized enterprises (SMEs) on TikTok were estimated to contribute roughly 4.8 billion euros to the region's gross domestic product (GDP). In Germany, SMEs on TikTok contributed around 1.5 billion euros to their GDP, while in France, SMEs contributed around 1.4 billion euros. Creator economy in Europe In 2023, TikTok data pointed to almost six in 10 medium-sized businesses in Europe advertising on TikTok, as well as around five in 10 micro- and small-sized businesses doing the same. With the introduction of artificial intelligence tools, the online influencer market might experience a major renovation as virtual influencers – characters and personalities that have been generated using AI technology – become increasingly popular. However, marketers and advertisers might not be sold on it just yet: according to a survey of marketing professionals in Europe conducted in 2024, over six in 10 respondents based in the Nordics felt overwhelmed by the prospect of adding AI to their daily processes, as did around six in 10 respondents in France, as well as four in 10 respondents in the United Kingdom. Content creators in France As of June 2024, video websites and apps provided the most popular type of content to online users in France, as half of the French digital population reported engaging with this content category. As the popularity of video content grows in the country, YouTubers and TikTok creators have taken a prominent role in the online marketing environment. Nano-influencers on TikTok – which recorded an audience between 1,000 and 10,000 followers - presented a higher engagement rate among French users when compared to larger influencers. Overall, the online video advertising market in France was estimated to generate a revenue of approximately 2.4 billion U.S. dollars in 2024.

The micro, small and medium enterprises (SME) in Costa Rica contributed to more than 35.7 percent of the Gross Domestic Product (GDP) of the country in 2017. This represents a decrease of approximately one percentage point in comparison to 2012, when SME provided almost 37 percent of the GDP of the country.

Small & Medium-Sized Enterprises (SMEs) Insurance Market Outlook

The global market size for Small & Medium-Sized Enterprises (SMEs) Insurance is projected to witness significant growth from USD 212 billion in 2023 to USD 351 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.1%. This growth is primarily driven by the increasing awareness among SMEs about the importance of risk management and financial protection, coupled with the rapid digitalization of services offering heightened accessibility and customized insurance solutions. As more small and medium-sized businesses recognize the potential vulnerabilities they face, whether in terms of physical assets, legal liabilities, or operational disturbances, the demand for comprehensive insurance coverage is expected to rise steadily throughout the forecast period.

A key growth factor for the SMEs Insurance market is the expanding awareness and understanding of risk management among small and medium-sized enterprises. As these businesses grow, they become more conscious of the potential risks and uncertainties that can impact their operations. From natural disasters to cyber threats, the range of potential disruptions has widened, necessitating a robust insurance framework. Furthermore, SMEs are increasingly recognizing the role of insurance not just as a safeguard, but as a strategic tool to ensure business continuity and resilience. The burgeoning entrepreneurial landscape, marked by a surge in startup activities and innovation across various sectors, also bolsters the need for tailored insurance products that can support these businesses through their different stages of growth.

In addition to risk awareness, technological advancements in the insurance sector play a pivotal role in driving market growth. The rise of InsurTech has revolutionized how insurance products are designed, underwritten, and distributed. Advanced analytics, AI, and machine learning are enabling insurers to create more personalized and flexible products that cater specifically to the needs of SMEs. These technologies also facilitate more efficient claims processing and customer service, enhancing the overall experience for enterprise clients. The digital transformation across the insurance value chain is making it easier and more cost-effective for SMEs to access the insurance products they need, contributing to market expansion.

Another significant factor contributing to market growth is regulatory support and government initiatives aimed at promoting SME insurance. In many regions, governments recognize SMEs as crucial engines of economic growth and are therefore incentivizing insurance uptake through various policy measures. This includes tax benefits, subsidies, and the creation of risk pools to make insurance more affordable and accessible. Such initiatives are particularly prevalent in emerging economies where the SME sector forms a substantial part of the GDP, and yet, remains underinsured. By encouraging SMEs to safeguard their operations, governments are not only protecting the businesses but also securing broader economic stability.

Regionally, the Small & Medium-Sized Enterprises Insurance market is expected to exhibit varied growth patterns, with Asia Pacific leading the charge in terms of expansion. The rapid industrialization and proliferation of SMEs in countries such as China and India drive the demand for comprehensive insurance solutions. North America and Europe are also significant markets due to their well-established insurance industries and regulatory frameworks that support SME growth. Meanwhile, regions like Latin America and the Middle East & Africa, although smaller in market size, are poised for growth due to increasing entrepreneurial activities and improving economic conditions.

Coverage Type Analysis

The SMEs Insurance market is diversified across several coverage types, each serving distinct needs of small and medium-sized businesses. Property insurance remains one of the foundational products in this segment, offering protection against damages to physical assets caused by events such as fires, theft, or natural disasters. With the growing value of real estate and equipment owned by SMEs, property insurance is becoming increasingly indispensable. This segment is characterized by a shift towards more comprehensive policies that not only cover physical damage but also include elements such as business interruption to mitigate the financial impacts of unforeseen events.

Liability insurance is another critical component in the SMEs Insurance portfolio, safeguarding businesses ag

Small and Medium-sized Enterprises (SMEs) play a significant role in Ghana's economy. In 2023, over ** percent of business enterprises in the country were SMEs. Moreover, they did not only form around ** percent of the total employment in Ghana but also accounted for some ** percent of the country's GDP.

This paper analyzes the relationship between the relative size of the small and medium enterprise (SME) Sector and the business environment in 76 countries. The paper first describes a new and unique cross-country database that presents consistent and comparable information on the contribution of the SME sector to total employment in manufacturing and GDP across different countries. We then relate the importance of SMEs and the informal economy to indicators of different dimensions of the business environment. We find that several dimensions of the business environment, such as lower costs of entry and better credit information sharing are associated with a larger size of the SME sector, while higher exit costs are associated with a larger informal economy.

Small Business Loan Market Outlook

The global small business loan market size was valued at approximately USD 1.8 trillion in 2023 and is projected to reach USD 3.1 trillion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period. The growth of this market is driven by a combination of factors including an increasing number of small and medium enterprises (SMEs) seeking financial assistance, advancements in financial technology, and supportive governmental policies aimed at encouraging entrepreneurship. As SMEs continue to contribute significantly to global economies by enhancing employment rates and contributing to GDP, the demand for small business loans is anticipated to surge, paving the way for robust market growth.

One of the primary growth factors for the small business loan market is the continued expansion of the SME sector globally. With SMEs constituting a substantial portion of businesses worldwide, there is an ever-increasing need for financial solutions that support their operational and expansion needs. This growth is further bolstered by the rise of entrepreneurial spirit, particularly in developing regions where micro and small enterprises are pivotal in economic revitalization. Additionally, the increasing digitalization of financial services has made access to loans more streamlined and accessible, thus facilitating the growth of the market by catering to a wider audience who previously might have been excluded from traditional banking services.

Moreover, the advent of financial technology (fintech) has dramatically transformed the landscape of small business lending. Fintech companies have introduced innovative solutions that not only expedite the loan approval process but also offer more flexible loan terms that are tailored to the specific needs of small businesses. These technological advancements have significantly reduced the barriers of entry for small businesses to access capital, allowing them to thrive and expand. Additionally, AI-driven credit scoring systems and machine learning algorithms have improved risk assessment, enabling lenders to offer competitive interest rates and terms, further fueling market growth.

Supportive government measures and policies are another driving force behind the growth of the small business loan market. Many governments recognize the crucial role SMEs play in fostering economic growth and job creation, leading to the implementation of favorable policies such as tax incentives, subsidies, and guarantees to encourage lending to small businesses. Programs like the Small Business Administration (SBA) loans in the United States and similar initiatives across Europe and Asia Pacific are exemplary of how government support can stimulate market growth by mitigating risks for lenders while providing much-needed capital to small enterprises.

Regionally, the small business loan market exhibits diverse growth patterns. North America remains a significant market due to its well-established financial infrastructure and the presence of numerous SMEs. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by rapid industrialization, a burgeoning start-up ecosystem, and proactive governmental support for SMEs. Meanwhile, Europe and Latin America are also witnessing increased demand for small business loans, propelled by technological advancements and economic recovery efforts. The Middle East & Africa, although smaller in market size, is experiencing steady growth due to rising entrepreneurial activities and improved financial access.

Loan Type Analysis

The categorization of small business loans into term loans, SBA loans, business lines of credit, invoice financing, equipment financing, and others, offers a comprehensive understanding of the varied financial solutions available to meet the diverse needs of small businesses. Term loans are one of the most traditional forms of financing, offering a lump sum amount to be repaid over a set period with interest. This type of loan is particularly appealing to small businesses looking to invest in capital expenditures, expansion projects, or to cover significant one-time expenses. The predictability and structured repayment plan of term loans make them a preferred choice for many small business owners.

SBA loans, backed by government guarantees, provide small businesses with access to financing that might be otherwise unavailable through conventional channels. These loans are designed to support the growth and development of small businesses by offering lower interest rates and

A survey on small and medium enterprises (SMEs) in Thailand in 2021 found that around **** percent of SMEs experienced less income from the COVID-19 pandemic. SMEs are considered one of the most important business sectors in Thailand, contributing a large part to the country's exports and GDP.

 A country driven by small and medium businesses 

SMEs have been regarded as one of the most significant drivers of the Thai economy and contributes to around half of the country’s GDP. Despite being large in numbers, SMEs in Thailand still have limitations in terms of business infrastructure. The government has realized this and thus created the Office of SMEs Promotion as an effort to ease business operations for SMEs. The continuous governmental support and the increased accessibility of starting a business has then led to a substantial increase in SMEs, thus contributing to a stable growth in GDP, especially for the industry and services sector.

 The economic effect on SMEs of COVID-19 

 The COVID-19 pandemic has undeniably affected many SMEs in Thailand. The pandemic has first limited the flow of tourism which then led to a chain effect that disturbed other core sectors. Additionally, stringent government policies towards the pandemic have also directly affected the survivability of SMEs, leading to many businesses being shut down as well as many workers being laid-off. However, private efforts from the businesses itself have managed to sustain its operations for some businesses. One of the most effective practices include finding additional channels of income, especially adapting to online channels.

This paper explores the relationship between the relative size of the Small and Medium Enterprise (SME) sector, economic growth, and poverty alleviation using a new database on the share of SME labor in the total manufacturing labor force. Using a sample of 45 countries, we find a strong, positive association between the importance of SMEs and GDP per capita growth. The data do not, however, confidently support the conclusions that SMEs exert a causal impact on growth. Furthermore, we find no evidence that SMEs alleviate poverty or decrease income inequality.

Indicator prepared by DG RTD based on Eurostat data. It contains estimated or provisional data. The GDP used by Eurostat for the calculation of the official R&D intensities is of 15 November, 2015

The respondents’ viewpoints about Impact of COVID-19 on SMEs.

Micro, small, and medium enterprises' Gross value added (GVA) across India accounted for over ** percent of India's gross domestic product (GDP) in the financial year 2023. This was an increased contribution as compared to the previous year. Additionally, MSMEs account for a significant part of the country's exports. Classification of MSMEs in India   As per the upward revision announced in 2020, the definition of micro manufacturing and services units was increased to ** million Indian rupees of investment and ** million rupees of turnover; the small unit was increased to 100 million investment and *** million turnover. The limit of the medium unit was increased to *** million in investment and *** billion in turnover. The objective of this change was to ensure that MSMEs can exhaust the state benefits without the fear of outgrowing themselves. However, critics argue that the gap defining medium enterprises is too wide and may create unfair competition. Informal micro enterprises Micro enterprises account for the majority share of the MSME sector in India, and a significant number of these enterprises are informal. Cost of compliance, complex labor laws, and lack of awareness about the benefits of formalization could be some reasons for keeping the micro-enterprises unregistered. Since businesses in the informal economy do not contribute to the tax base and tend to remain small with limited access to formal finance, it impairs a country’s ability to truly gauge the socio-economic metrics.

Background: Small and medium enterprises (SMEs) are crucial to the Philippine economy, contributing significantly to employment and GDP. However, challenges such as natural disasters (e.g., Typhoon Haiyan), economic disruptions, and limited financial resources have tested the resilience of entrepreneurs, especially in Tacloban City, Leyte. This study explores the interplay between financial literacy, entrepreneurial competency, and resilience and their combined impact on the sustainable performance of SMEs in Tacloban City. Methods: A descriptive-correlational research design was utilized, employing a structured questionnaire adapted from existing validated tools. Data were collected from 224 respondents across service, retail, and insurance sectors, selected through cluster sampling. Relationships among financial literacy, entrepreneurial competency, resilience, and sustainable performance were analyzed using SmartPLS-SEM. The mediating role of resilience was also assessed. Findings: The results indicate that financial literacy significantly enhances entrepreneurial competencies and resilience, both of which positively influence the sustainable performance of SMEs. Entrepreneurial resilience partially mediates the relationship between entrepreneurial competency and sustainable performance, highlighting its critical role in overcoming challenges. Demographic factors, such as age and education, were found to influence perceptions of sustainable performance. Conclusions: The findings underscore the importance of financial literacy as a foundational element in fostering entrepreneurial competency and resilience. Tailored interventions, such as financial education programs and resilience-building workshops, are recommended to support SME sustainability, particularly in disaster-prone regions like Tacloban City. Novelty/Originality: This study extends existing research by applying a resilience mediation model to a unique geographic and socio-economic context, Tacloban City, known for its vulnerability to natural disasters. The inclusion of demographic variables adds depth to the understanding of resilience and sustainability among SMEs in this setting, providing actionable insights for policymakers and stakeholders.

Small and medium-sized enterprises (SMEs) had a value added of approximately *** trillion euros to the European economy in 2024 with micro-sized enterprises accounting for approximately *** trillion euros of this amount.

Abstract

The MSME sector in Kenya has over the years been recognized for its role in provision of goods and services, enhancing competition, fostering innovation, generating employment and in effect, alleviation of poverty. The crucial role of MSMEs is underscored in Kenya's Vision 2030 - the development blueprint which seeks to transform Kenya into an industrialized middle-income country, providing a high-quality life to all its citizens by the year 2030. The MSME sector has been identified and prioritized as a key growth driver for achievement of the development blue print.

The measurement of the size of the sector in terms of employment as well as its contribution to Gross Domestic Product [GDP] and the generation of income is of major importance. This is not only because of their usefulness in the design of appropriate policies and programmes but also in understanding their dynamics in terms of income, wages, growth patterns, sector and their evolving nature among others. MSMEs tend to be dynamic: the structure and their operations change considerably within a short time. The last comprehensive study is the 1999 National Micro and Small Enterprise (MSE) Baseline Survey. The 2016 National MSME Survey was therefore, designed to respond to the existing data gap and sought to provide data at national and county levels. The unit of observation was the establishments and the survey targeted those that engaged at most 99 persons. The terms establishment, enterprise and business are however, used interchangeably in this report.

Geographic coverage

i) National ii) Counties and iii) Urban and rural residence

Analysis unit

i) National ii) Counties and iii) Urban and rural residence

Kind of data

Census/enumeration data [cen]

Sampling procedure

Survey Design The previous MSE studies used the household-based approach to identify businesses/establishments. However, the 2016 MSME survey, in addition to the household-based approach, interviewed businesses/establishments identified from business registers maintained by county governments. The 2016 MSME survey was cross-sectional and was designed to provide estimates at national and county levels. The survey used a representative probability sample design aimed at producing estimates at the following domains; · National · Counties and · Urban and rural residence (For Unlicensed businesses only.

The survey adopted a stratified random sampling method for the establishment-based sample in which a systematic random sample of establishments was drawn using equal probability selection method. For the household-based sample, a two-stage stratified cluster sampling design was used where the first stage involved selection of 600 clusters (354 in rural and 246 in urban) with equal probability. In the second stage, a uniform random sample of 24 households in each cluster was selected using systematic random sampling method.

Mode of data collection

Face-to-face [f2f]

Research instrument

One Enterprise questionnaire

Saudi Arabia Flexible Office Space Market size was valued at USD 295 Million in 2024 and is projected to reach USD 569 Million by 2032, growing at a CAGR of 9.8% from 2025 to 2032.

Key Market Drivers:

Vision 2030 and Economic Diversification: Saudi Arabia’s Vision 2030 initiative is driving the creation of new business sectors, and increasing demand for flexible workspaces.

Growing Startup Ecosystem and SME Development: The focus on nurturing startups and SMEs has significantly boosted the demand for flexible office solutions. According to the Saudi General Authority for Small and Medium Enterprises (Monsha’at), SMEs contributed 35.7% to GDP in 2022, up from 20% in 2016.