Fair Economy Alliance is a project started by the Schöpflin Stiftung, dedicated to promoting the transition towards a new economy from the SME perspective in particular, and society in general. The project started out by pointing out that free trade agreements need to be designed in order to deliver value for small and medium-sized enterprises (SMEs). The focus on SMEs stems from their importance to the economy: In 2014, SMEs accounted for 99.8% of all enterprises and provided 67% of employment in the non-financial sector on the EU28.