EU decision-makers and businesses which took part part in a Conference organized by the EESC, Businesseurope, Eurochambres and  the European Association of Craft, Small and Medium-sized Enterprises, identified a number of concrete measures to be taken rapidly by the European Union and national policy makers in order to strengthen their efforts to deliver the Small Business Act for Europe (SBA). They highlighted that SMEs are crucial to innovation and creativity, and therefore deserve to be supported.

Two years after the Small Business Act entered into force and shortly before the European Commission review, the European Economic and Social Committee's Employers Group, Businesseurope, Eurochambres and the European Association of Craft, Small and Medium-sized Enterprises held on 2 December a second yearly event to discuss the implementation of the Act and the way forward.

Conference participants underscored the need to create a more SME-friendly regulatory environment by carefully assessing the impact of any new regulatory or legislative measures on SMEs. They also stressed that SMEs needed better access to markets, which is still hindered by excessive red tape and the lack of harmonisation in the EU internal market. They also called for initiatives to open up EU public procurement to SMEs. 

Despite recent initiatives taken by the EU, in particular through the European Investment Bank and EU Research Framework Programmes, access to finance remains tricky. The new EU regulatory measures for banks should be defined in a balanced way, so that they do not hinder SMEs access to capital. The potentially significant cumulative effect of the wide range of measures on the table should also be taken into account, said participants in the event.

Participants also called for successful completion of Council negotiations on the European Private Company Statute (SPE), the only legislative proposal from the SBA still pending, whose absence restricts smaller companies' ability to grow and trade across Europe.

Ten business recommendations to make Small Business Act work

Improve Access to Finance

• Reform of financial markets
• Availability of credit
• Develop alternative sources of SME finance
• Public schemes

A Regulatory Environment Supportive of SMEs’ Needs

• Improve impact assessments in policymaking
• Systematic introduction and application of the “only once” principle
• Keeping SMEs in mind during policy making

Enhance Market Access for SMEs

• Electronic interoperability
• European Private Company Statute
• Internationalisation of SMEs

Participants in the event agreed that supporting SMEs and business in Europe will be one of the key solutions not only to the financial crisis but also in addressing global social and environmental issues.