21 Jan 2021   |   News byte

Estonia, Cyprus, Belgium and Germany lead innovative SMEs league table


Eurostat

A Eurostat survey shows that of all SMEs in each member state, those in Estonia, Cyprus, Belgium and Germany are more likely to be involved in innovative activities.

More than 70% of SMEs in Estonia were classified as innovative, according to data collected between 2016 and 2018. SMEs are defined as companies with 10 - 249 employees.

The lowest percentages of innovative companies were in Romania, Poland and Hungary.

The survey highlights that half of SMEs across the EU reported innovation activity, such as new methods for production, information processing and marketing, from 2016 - 2018.

Overall, 13.2% of all enterprises in the EU launched one or more new and innovative products to the market between 2016 and 2018.

Never miss an update from Science|Business:   Newsletter sign-up