The power of SMEs
Despite the numerous global players Global players They are the flagships of the economy and global players with an international footing – the major German corporations. The top brands include Daimler, BMW, SAP, Siemens, Volkswagen and Adidas. Shares in the major German companies are listed in the German share index (DAX) at the Frankfurt stock… Read more › and large flagship businesses, the German economy is characterised by 3.6 million small and medium-sized enterprises ( SMEs SMEs The German economy is characterized first and foremost by small and medium-sized enterprises as well as the self-employed and the independent professions. Some 99.6 percent of all companies are small and medium-sized enterprises. These are firms with annual sales of below EUR 50 million and a… Read more › ), as well as countless self-employed persons and freelancers. The SME segment includes more than 99 percent of companies, whereby SMEs are defined as firms with annual sales of less than 50 million euros and fewer than 500 employees. Numerous companies founded by entrepreneurially minded migrants now also enjoy SME status. More than 800,000 people with a migrant background own a company, hence migrants in Germany are an important economic factor.
World leaders in niche markets
According to studies by the KfW Banking Group, there is a decline overall in the number of innovative companies, with only 19 percent of SMEs SMEs The German economy is characterized first and foremost by small and medium-sized enterprises as well as the self-employed and the independent professions. Some 99.6 percent of all companies are small and medium-sized enterprises. These are firms with annual sales of below EUR 50 million and a… Read more › investing in innovative products and processes. It is above all a few larger medium-sized companies that are responsible for innovation efforts, while in numerous niche market segments German SMEs are frequently hidden champions, with leaders offering highly innovative products in European and global markets. Meanwhile, the creative industry Creative Industry Ingenuity and creativity are an important economic factor for Germany as a business location. Art, film, music, fashion, media, books and lifestyle: The contribution of the creative industry to Germany’s overall economic output is comparable with that of the large industries, namely the automobile… Read more › has become firmly established in the fabric of the economy. Frequently in small, under-capitalised companies it plays a pioneering role on the way to a digital, knowledge-based economy, and is regarded as a significant source of ideas for innovative products. In 2018 there were around 256,600 companies operating in the area of the creative economy, and the Berlin Berlin Once a year, during the Berlinale film festival, the world of the silver screen focuses its attention on Berlin. And the city’s inhabitants are used to global interest. After all, the people of Berlin have lived in a capital city since 1458. However, there is also a shady side to the city’s history… Read more › - Brandenburg Brandenburg Brandenburg surrounds the capital city of Berlin and benefits from the latter’s “gin and martini belt”. However, with its numerous lakes and forests it also has several trump cards of its own. With the Hohenzollern castles, and in particular Sanssouci Castle, which is included in the UNESCO World… Read more › area is considered to be an international seedbed for creative industries and start-ups.