EU pushes forward with measures to boost entrepreneurship

Posted by Natalie Brandweiner in Finances, Regulation on Mon, 19/09/2011 - 12:34
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The European Union has introduced three new objectives to help streamline the implementation of the Small Business Act by September 2012.

Introduced in June 2008, the Small Business Act for Europe was intended to recognise the important role small businesses play in the European economy. By removing obstacles that can often create challenges to the development of start-ups, the Commission hopes to simplify the policy framework and encourage the growth of entrepreneurs.

Meeting in Brussels earlier this month, 27 representatives from across the EU member states met to produce comprehensive objectives to speed up the implementation of the act, agreeing to reduce bureaucracy and improve access to finance through more effective measures.

The first of the objectives is to develop the growth of entrepreneurship and encourage more citizens to achieve business start-ups. Ensuring that this is done in each of the member states and at cost of no more than €100, the 27 ‘SME envoys’ hope this will both simplify the process and encourage the growth of small businesses.

The second objective is to support and retain small businesses by improving the availability of bank loans and microcredit for start-ups in particular. The representatives have also highlighted the increasing need for SMEs participation in public procurement.
 
Discussing the challenges often faced by small businesses in accessing public procurement outside the EU, Commissioner Tajani said: “Public procurement represents a new chance for the international dimension of trade. That is why we are being careful to include the interests of European enterprises in all bilateral trade negotiations under way or that will take place in the framework of the multilateral agreement on public procurement. The Commission is also considering a policy instrument aimed at creating greater symmetry and reciprocity in these negotiations on market access.”
 
The final objective is to ensure that each of the member states make compulsive the ‘SME test’, as recommended by the European Commission. Currently only 12 countries are utilising the test but are each varied in their methods; ensuring that each member state participates will lead to the creation of more informative legislative on behalf of small businesses and benefit them directly. 

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