Brussels, 26/09/2008 (Agence Europe) - On Thursday 25 September, European competitiveness ministers prioritised the measures contained in the European Small Business Act - the Community action plan to boost European small and medium-sized enterprises (SMEs) (see EUROPE 9690) - in the light of the current economic situation. “The chapters on financing, simplification, that is, the “better legislation” approach, and market access were the three priorities of member states as a whole,” said French Secretary of State for Trade, Crafts and SMEs Hervé Novelli, following the meeting.
The conclusions which the Competitiveness Council will adopt in December could very well reflect these three priorities and highlight the following initiatives: - access to funding: encouraging the creation of a European venture capital market, supporting access to credit, notably through the European Investment Bank special initiative, and reducing the time limits for payment; - legislative simplification: allowing rules affecting SMEs, particularly on taxation, to come into force at the same time and carrying out specific impact studies prior to any initiative involving SMEs; - access to funding: creating a European Private Company (EPC) statute as quickly as possible.
European Enterprise Commissioner Günter Verheugen, in the belief that the financial crisis will have harmful effects on the real economy and, thus, on SMEs, backed the prioritisation of Small Business Act (SBA) measures carried out by ministers. He said that all SBA proposals could be adopted before the end of this European Parliament in spring 2009. He noted that Germany had expressed its desire to discuss the draft directive on reduced value added tax rates in the general context of measures to boost SMEs. (M.B./transl.rt)