SMALL IN SIZE, BIG IN ACHIEVEMENTS
According to the data of the Statistics Department, at the beginning of the year only 0.3% of the companies in operation met the criteria of large enterprises while the number of micro-enterprises alone employing no more than 10 people accounted for almost 83%.
According to Aurimas Želvys, Director of the LBSA, small and medium-sized enterprises (SMEs) around the world are the main employers and creators of gross domestic product.
‘The sources are different but the figures are more or less the same: SMEs account for around 80% of jobs and two-thirds of GDP. Therefore, it is important to promote entrepreneurship, and support innovative ideas and projects that affect people’s well-being, create added value and contribute to the progress of the country,’ says Želvys.
Projects carried out by SMEs account for the largest share of calls for proposals in the fields of energy, research, experimental development and innovation (R & D & I), tourism and business.
As of 2014, only around 350 of nearly 3,380 projects completed and implemented by the LBSA were in the hands of large companies and municipalities. At the same time, micro-enterprises have carried out or are carrying out around 600 projects, small enterprises almost 1,300 and medium-sized enterprises just over 1,110 projects.
Businesses are once again seeking support to implement new ideas, modernise business processes, develop export markets and innovate or digitalise after completing one project and being convinced of the benefits of EU investment.
For example, a large number of micro-enterprises have carried out or are still carrying out three projects, small enterprises have completed (seven) or are carrying out (four) projects. The LBSA portfolio also includes medium-sized enterprises which have carried out (ten) or are carrying out (nine) projects, and a large number of companies of all sizes are carrying out between two and five projects.
In the measures administered by the LBSA, the majority of calls focus on SMEs and the entire Operational Programme priority ‘Promoting the Competitiveness of Small and Medium-sized Enterprises’ with 18 measures administered by the LBSA also dedicated to SMEs.