ABSTRACT
Small and medium-sized businesses are the mainstay of the German economy. These SMEs account for around 70 per cent of all jobs in the country. There are approximately 3.7 million such companies in existence today. They not only form the backbone of the economy but are also responsible for bringing to the fore new innovations, technologies and patents. These have been developed by scores of technical entrepreneurs who have furthered their work into a successful, working enterprise. These enterprises constitute what in Germany is popularly known as the ‘Mittelstand’. A substantial percentage of Germany’s exports come from these companies.
