The European Confederation of Young Entrepreneurs blog quotes Atlantic Council report The Trans-Atlantic Trade and Investment Partnership – Big opportunities for small business:
More than 99% of all businesses in both the United States and European Union are classified as medium-sized enterprises (SMEs). According to Atlantic Council these small companies account for the vast majority of employment and have contributed almost two-thirds of all net new private sector job creation in the United States. In Europe, SMEs performed even better, creating 85 percent of all new European jobs between 2002 and 2010. SMEs are critical engines for innovation and economic growth for both the European Union and the United States.