The importance of financial consulting in the development of small and medium-sized enterprises in the European Union

Abstract

During much of the past decade, SMEs have seen impressive growth. Since the onset of the financial crisis, this trend seems to have been interrupted, even though there are indications that show that, at least in the early stages of the crisis, Small and Medium-Sized Enterprises in the European Union have proven to be comparatively resilient. Under these circumstances, financial advisory may be a key to the future development of small and medium-sized enterprises in the European Union.