{"id":1609,"date":"2019-05-20T04:36:50","date_gmt":"2019-05-20T09:36:50","guid":{"rendered":"https:\/\/www.emag.com\/blog\/en\/?p=1609"},"modified":"2019-05-21T05:23:59","modified_gmt":"2019-05-21T10:23:59","slug":"how-important-are-small-and-medium-sized-enterprises","status":"publish","type":"post","link":"https:\/\/www.emag.com\/blog\/en\/how-important-are-small-and-medium-sized-enterprises\/","title":{"rendered":"How Important are Small and Medium-Sized Businesses?"},"content":{"rendered":"

The German Federal Ministry of Economics says that small and medium-sized enterprises (SMEs) are \u201cdriving economic success\u201d\u2014an assessment confirmed by a variety of research. The fact that innovative businesses, like EMAG, play a central role in this \u201cdriving force\u201d is reflected \u201cAxia Best Managed Company” award EMAG recently received.\u00a0\u00a0<\/strong><\/p>\n

<\/p>\n

How successful are German SMEs and how important are they to the German economy? The KfW-ifo SME Barometer lists a whole set of interesting indicators related to this topic. It shows that SMEs generate more than half the turnover and employ significantly more than half of the country\u2019s workforce\u2014more than 17 million in total. SMEs are also the \u201cnation\u2019s teachers.\u201d In 2017, businesses with more than 500 employees provided about 1.25 million of the 1.52 million total vocational apprenticeships in Germany.<\/p>\n

The Machinery Industry\u2019s Role<\/h2>\n

The machinery industry\u2014 traditionally consisting of SMEs\u2014is responsible for a major part of these performance figures. According to the German Mechanical Engineering Industry Association (VDMA), there are currently 6,459 mechanical engineering companies in Germany and they have generated a total turnover of 240 billion euros last year. Another interesting figure is the astonishingly high amount of the various branches of mechanical engineering in global trade. For instance, the amount of German manufacturers in measuring and testing equipment is 31.1 percent. According to the VDMA, machine tool manufacturers\u2014such as EMAG\u2014represent 20.5 percent share of the global trade.<\/p>\n

The Role of Research<\/h3>\n

What are the reasons behind this success? Looking at research and development departments may provide some answers\u2014SMEs keep developing innovations that succeed in the market. In this context, the VDMA stresses that machinery manufacturers generate over a fifth of their turnover from innovations. With a share of nine percent of the entire economy\u2019s research and development expenditure, the machinery industry is one of the most research-intensive sectors\u2014right alongside automotive manufacturing, electrical engineering and the pharmaceutical\/chemical industry.<\/p>\n

Why EMAG Received the \u201cAxia Best Managed Companies Award\u201d<\/h4>\n

EMAG’s positioning and development fits the following descriptions in many respects: The Group is one of the few makers of manufacturing systems that can cover the entire process chain from soft machining to hard machining. In the past decades, EMAG has succeeded in systematically expanding on its know-how and in tapping into new markets\u2014a performance that has now been recognized by the \u201cAxia Best Managed Companies Award.\u201d The consulting firm Deloitte, the German weekly business news magazine \u201cWirtschaftsWoche\u201d and the Federation of German Industries (BDI) award this quality label to exceptionally well-managed SMEs. \u201cOverall EMAG distinguishes itself with its exemplary management that combines a strategic vision with the capacity to innovate, a sustainable management culture and good corporate governance. It thus conveys a model for other businesses to follow,\u201d points out Lutz Meyer, Partner and Head of the SME program at Deloitte.<\/p>\n

\"EMAG

Innovative businesses such as EMAG are driving economic success\u2014an award now recognizes the company\u2019s role.<\/p><\/div>\n

There are a variety of examples that illustrate the extend of EMAG’s efforts in the area of research. The company is working on the digitalization of its machines under the heading \u201cIndustry 4.0.\u201d In the future, the large amount of sensor, operating and production data generated by each machine tool during its operation is to be used extensively\u2014customers should benefit from more stable and more productive processes. The various apps in its current software portfolio<\/a><\/span>, which can for example be used to monitor several machines simultaneously, shows just how fast the South-German machinery manufacturer is making progress.<\/p>\n

Read more about the Axia Award here in our press release: EMAG wins the \u201cAxia Best Managed Companies Award\u201d<\/span><\/a>
\n<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The German Federal Ministry of Economics says that small and medium-sized enterprises (SMEs) are \u201cdriving economic success\u201d\u2014an assessment confirmed by a variety of research.…<\/p>\n","protected":false},"author":2,"featured_media":1610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","editor_notices":[],"footnotes":""},"categories":[42],"tags":[128],"class_list":["post-1609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technologies","tag-salach"],"yoast_head":"\nEMAG wins the Axia Award - Innovative businesses<\/title>\n<meta name=\"description\" content=\"Innovative businesses such as EMAG are driving economic success\u2014an award now recognizes the company\u2019s role. 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