SMEs the key as IT sector anticipates 1.5 million new jobs across Europe by 2010

The IT sector will create 1.5 million new jobs in Europe by 2010, with small and medium-sized enterprises (SMEs) playing the biggest part in the employment growth, according to research.

A study by analyst firm IDC estimates that the jobs growth will create around £96bn in new tax revenues for governments.

There are currently around 22 million SMEs across Europe, employing almost 120 million people. This contributes 57% of pan-European gross domestic product.

The report said: “If SMEs can be stimulated into adopting new technologies more rapidly, and creating innovative products more competitively, Europe’s position as a leading player in the global economy can be assured.”

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The report was commissioned by Microsoft to coincide with its ‘SME Innovation Day’ in Brussels.