The Institut für Mittelstandsforschung (IfM) Bonn was established in 1957 as a foundation of private law at the initiative of Ludwig Erhard, then Minister of Economic Affairs (and later German Chancellor). Founders are the Federal Republic of Germany and the Federal State of North Rhine-Westphalia. The institute's task is to analyse the status-quo, development and problems of Mittelstand (SME) enterprises, develop recommendations for SME policies and disseminate its research results to the general public. IfM Bonn adopts an applied research approach. The institute provides comprehensive statistical information on small and medium-sized enterprises (Mittelstand) in Germany, based on official and semi-official data and own survey-based data. Furthermore, the institute investigates SME-related research topics by applying state-of-the-art (empirical) research methods. It provides expertise on current policy issues relevant to small and medium-sized enterprises.