The SME Assembly 2024, Europe’s most significant event for small and medium-sized enterprises (SMEs), kicked off on Monday 18 November in sunny and stunning Budapest.

Before diving into all the high-level panels, policy workshops, and networking sessions, delegates explored Budapest’s vibrant SME landscape through four curated business tours. These included a visit to Buda Castle, showcasing the key role of SMEs and artisans in cultural heritage regeneration, as well as an introduction to women-led enterprises thriving within the EU’s Single Market. Other participants delved into Hungary’s dynamic start-up scene, engaging with four fintech innovators, while a visit to Márka Soft Drink Manufacturer under the Model Factory Programme spotlighted best practices in technological innovation for SMEs.

Whilst delegates were exploring Budapest, the SME Envoys convened for a high-level meeting at the iconic Hungarian Parliament to discuss key challenges and priorities for Europe’s SMEs. Comprised of national representatives from all EU Member States and the European Commission, the SME Envoys play a crucial role in shaping policies that support competitiveness, sustainability, and digital transformation tailored for SMEs. Their discussions provided essential political context for the Assembly, ensuring that the needs of SMEs remain at the forefront of EU policymaking.

In the evening, delegates had the opportunity to attend the much-anticipated Schumpeter ‘Innovation in Enterprise’ lecture, which was introduced by Richárd Szabados, State Secretary of SMEs for the Republic of Hungary, who delivered a keynote speech. “SMEs are shaping Europe's future. They drive local environments and regional growth,” Szabados emphasised.

Professor Johan Wiklund took the stage to deliver a compelling keynote address, captivating the Assembly with his thought-provoking insights: "By nature, innovation is surprising, chaotic, serendipitous, and uncontrollable. We need more experimentation and less management. We need to try many different models, and accept that many will fail."  Professor Wiklund is a distinguished figure in entrepreneurship research, holding professorships at Syracuse University (USA), the University of Bath (UK) and Nord University (Norway). 

Rounding off the first day, participants had the opportunity to meet each other and network at the European SME Week reception, a perfect chance to discuss the day’s events during the first of the Assembly.

Did you know that you can watch the recording of the SME Assembly 2024 sessions? Check out the Promoting Enterprise YouTube channel and immerse yourself in the vibrant world of SMEs and entrepreneurship. If you want to be up to date, you can also follow Promoting Enterprise on social media and keep an eye on #SMEAssembly2024.