As I’ve mentioned before, I am an avid reader of the Wall Street Journal. I read an excellent article yesterday in the WSJ that talked about how Germany’s small businesses are the drivers beyond its surging economy. Sound familiar? According to the article, Engines of Growth, “small and middle-sized businesses represent 99.7% of of all German companies.” These companies have been driving the economy “for more than a century”. Here are some statistics from the article:
- 3.5 million small and middle-sized companies with <500 employees and <€50 million in annual revenues
- Employs 78.5% of the German workforce
- Contributes 53% of the German GDP
- Most are family owned
Das ist wunderbar! Kudos to the world’s small and medium businesses!