The Small Business Act for Europe report shows that Lithuania exceeded the EU average in areas of entrepreneurship, administration, state support, public procurement, funding possibilities and the overall market situation.
© DELFI / Mindaugas Ažušilis

The report was presented in the SME Assembly in Luxembourg last week.

Small and medium-sized enterprises make up an important share in the Lithuanian economy. Around three quarters of all employees work in small to medium sized enterprises, which is 10 percent more than the EU average. Small to medium sized enterprises account for 99.8 percent of all businesses in Lithuania, which is the same as the EU average. These enterprises create 67 percent of GDP, which is 9 percent more than the EU average.

The Small Business Act prepared by the initiative of the European Commission is an EU policy initiative for small to medium sized business. It consists of various policy tools based on ten principals on how to improve the business environment.