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European Commission: outlook for SMEs in Latvia is favorable.


The outlook for small and medium-sized enterprises (SMEs) in Latvia is favorable, the European Commission's Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs said in its annual report on European SMEs presented at the SME Assembly in Tallinn. The Directorate General expects SME value added in Latvia to rise by 13.6 per cent in 2016-2018 and SME employment by 4 per cent. As a result, it is predicted that about 19,000 jobs will be created by SMEs in this period.

"Latvian SMEs experienced moderate growth in 2012-2016. SME value added increased by 15.2 per cent, while SME employment rose by 6.3 per cent, very similar to the growth levels of large firms. Growth in micro firms was particularly strong, at 21.9 per cent for value added and 12.8 per cent for employment. However, in 2015-2016 SME growth has been less pronounced, with value added increasing by only 0.9 per cent and employment actually falling by 0.9 per cent," the report says.

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Publication:The Baltic Times (Riga, Latvia)
Geographic Code:4EXLA
Date:Nov 29, 2017
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