Developed from a study commissioned by the European Capital Markets Institute, this text examines the impact of private equity and capital markets on the development of small and medium-sized enterprises (SMEs)in the United States and the European Union. Table of Contents An overview of SMEs in Europe and the USA private equity/venture capital in Europe and the USA markets for SME publicly quoted stocks in Europe and the USA institutional policy towards SMEs in Europe and the USA SME development and constraints - comparisons within the EU private equity and venture capital in the European Union capital markets in the European Union.