(January 2013) Micro-, small and medium-sized enterprises (SMEs) are key economic agents, and large segments of the population and of the economy depend on their activity and their performance. In countries of the European Union and of Latin America and the Caribbean, SMEs account for about 99% of all enterprises, are responsible for a great portion of employment generation (67%) and are active in a wide variety of products and services. In general, SMEs have greater weight in terms of employment than of output, indicating that their productivity levels are lower than those of large firms, and their limited participation in exports reflects their strong orientation towards the domestic market.

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