Around 85 per cent of new jobs in the EU between 2002 and 2010 were created by small to medium sized enterprises (SMEs), according to a new study.

The European Commission report showed the essential contribution of these companies as the continent looks to fight through the current economic crisis.

Between 2002 and 2010, net employment in the European Union rose by an average of 1.1 million jobs each year, with SMEs also having a higher growth rate in terms of staff numbers compared with larger enterprises (one per cent compared to 0.5 per cent).

Antonio Tajani, vice-president for entrepreneurship and industry for the commission, said that now is a critical time to offer praise to SMEs for the role that they play in creating jobs.

"The small and new enterprises are clearly the key for restoring economic growth," he added.

Part of this job creation could come through an improvement in online commerce, with the commission recently proposing 16 measures to double retail sales over the internet by 2015.

Posted by Lee Thrace