Is there any specific reason why SMEs in the European Union employ the vast majority of people in general as well as in certain industries? Are they exempt from certain regulatory burdens such as certain labour laws, for instance minimum wage legislation?
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$\begingroup$ It may depend on the country. Greece and Italy have a particularly large number of small and micro-firms and this is sometimes anecdotally attributed to the higher regulatory burden on larger companies. $\endgroup$ – Henry Apr 16 at 9:07
