The European Commission presented a strategy to promote better access to finance for SMEs. The strategy includes an EU Action Plan which consists in an increase of financial support from the EU budget and the European Investment Bank and a proposal for a regulation setting uniform rules for the marketing of venture capital funds.

The strategy presented by the Commission to promote better access to finance for SMEs is intended to enhance their competitiveness and their growth potential. In particular the strategy consists in an EU Action Plan which includes increasing financial support from the EU budget and the European Investment Bank and a proposal for a regulation setting uniform rules for the marketing of venture capital funds.

The new regulation will make it easier for venture capitalists to raise funds across Europe for the benefit of start-ups. Thus, all qualifying fund managers can raise capital under the designation "European Venture Capital Fund" across the EU, once a set of requirements is met. Michel Barnier, Internal Market Commissioner stressed that Europe need more venture capital in Europe. Therefore, by helping companies become more innovative and competitive, venture capital will create Europe's companies of the future. European Commission Vice President Antonio Tajani, responsible for Industry and Entrepreneurship, added that easing access to finance for SMEs is priority number one to get out of the crisis. The Action Plan presented underlines that Europe is doing its utmost to improve SMEs' access to finance.

Furthermore, the European Investment Bank will keep its SME loan activity at a sustained pace, close to the 2011 level of €10 billion. These measures come together to the measures recently presented, including €1.4 billion of new financial guarantees under the Programme for the Competitiveness of Enterprises and SMEs.