What macroeconomic factors determines growth in micro, small and mediumsized firms in Europe?

Abstract

The aim of this paper was to study the macro-factors effect on entrepreneurship at aggregate level in Europe. A distinguishing has been done at both the size and categories. The study covers SMEs in European Unions(EU) 28 countries, from 2005 to 2018 in ten different sectors: Mining and quarrying; Manufacturing; Electricity, gas etc.; Water supply etc.; Transportation and storage; Accommodation and food service; Information and communication; Real estate activities; Professional, scientific and technical activities; Administrative and support service activities. The result suggests that the mainly most important variable, for increasing the
number of SMEs, is Human Development Index (HDI).