Small and medium enterprises in Austria – facts and figures
Small and medium-sized enterprises (SMEs) are the backbone of Austria`s economy. They are an essential source of jobs, create entrepreneurial spirit and innovation and are crucial for fostering competitiveness.
According to the EU SME definition, which entered into force on 1 January 2005, the category of micro, small and medium-sized enterprises is made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding 50 million Euro, and/or an annual balance sheet total not exceeding 43 million Euro.
In 2016, 99.6 percent, respectively about 328,900 enterprises of the total business economy, were SMEs. Almost 2 million people were employed and approximately 54,000 apprentices were trained in Austrian SMEs. In 2016, SMEs generated sales revenues of 455 billion Euro (net) and gross value added at factor costs of 123 billion Euro.
For a summary of representative facts and figures on the situation of SMEs in Austria, please refer to the Report on the Situation of SMEs in Austria 2018.
For further information: Austrian Institute for SME Research