Brussels Small Business Act helped create 7500 more SMEs in two years
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    Brussels Small Business Act helped create 7500 more SMEs in two years

    © Belga
    © Belga

    A body of measures aimed at benefitting small businesses in Brussels Region helped to increase their number by 7,500 between 2015 and 2017. Thus far, 74% of the 77 measures contained in the Small Business Act have been implemented, Brussels’ Minister of the Economy and Employment, Didier Gosuin (Democratic Federalist Independent -Défi- party), said on Tuesday.

    The Small business Act was created to help consolidate and increase the number of small and medium-sized enterprises (SMEs) in Brussels, create more jobs in the sector, increase its added value, and contribute to the prosperity and quality of life created by SMEs.

    According to Didier Gosuin, Brussels Region topped the 100,000-mark for businesses subject to VAT. These now amount to 104,705 units, 7,500 more than in 2017, for an average density of 649 enterprises per km2., as against 602/km2 at the end of 2015.

    The business creation rate in the capital region remains the highest in the country. It is two percentage points higher than in Wallonia or Flanders, and also in Belgium’s other major cities.

    The survival rate for SMEs is five years and has been quite stable at 66.6% in 2016, 67.1% in 2017 and 65.4% in 2018. It is close to that of Flanders (66.7%) and higher than Wallonia’s (62.6%). Brussels also has a slightly higher business closure rate, which has, however, been on the decrease, as in the other two regions.

    Still, net business creation remains positive and is higher than that of the other regions, while the number of posts increased by 1,800 units between 2015 and 2017.

    Gosuin said many of the Small Business Act’s measures would be rolled out in 2019, which could further expand the business climate in the capital.

    Jason Bennett
    The Brussels Times