UK welcomes EU review of support for SMEs

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The Government, alongside other European member states including Belgium and Italy, has welcomed publication of the European Commission’s Small Business Act Review

The three Member States have committed to working together in Europe to promote the interests of small and medium-sized enterprises (SMEs) and have urged the Commission to host a forum for small business ministers as part of a renewed focus on putting SMEs at the heart of European decisions.

In a joint statement they said: “This Review sends a clear signal about the central importance of small and medium-sized enterprises in the European economy. The 2008 Small Business Act marked a milestone by committing Europe to put SMEs at the heart of decisions and created a useful policy tool for improving the conditions in which they operate. Almost three years after its adoption, it is helpful to take stock.

“As Europe faces the challenges of the 21st century, SMEs will play a vital role as engines of growth and jobs. We will continue to implement national policies to encourage enterprise and support our small businesses. And we will work together in Europe to remove barriers to success. Above all, we must ensure EU regulations do not place unnecessary burdens on our small businesses, that SMEs are able to secure the finance they need and that they can readily take advantage of new market opportunities.”