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MittelstandsMonitor 2010

Stabilisation in the SME Sector – But Economic Recovery Faced with Considerable Risks

Annual report on cyclical and structural issues relating to small and medium-sized enterprises

Even though small and medium-sized enterprises (SMEs) were severely hit by the serious economic crisis in 2009, they, all in all, proved to have a stabilising effect on the economy. However, the economic environment remains fragile: The expected GDP-growth of about 1½ % in 2010 is not enough to quickly overcome the consequences of the crisis. Despite the crisis-related bad earning position, the willingness of many SMEs to invest has only marginally decreased. At the same time, the majority of SMEs tries to keep scarcely available skilled staff.

These and further central results are presented in the MittelstandsMonitor 2010. The MittelstandsMonitor is a collaboration of KfW banking group and the research institutes IfM Bonn, RWI Essen and ZEW Mannheim, as well as the business information provider Creditreform. Besides questions of SME business cycles and the general business start-up and liquidation situation, the main focus of this year’s MittelstandsMonitor is on start-ups from unemployment, the recruitment of skilled and management staff as well as financing innovative projects in SMEs.


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