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The importance of SMEs to the European economy can hardly be overstated

Ahead of a vote on a new strategy for Europe’s Small and Medium-sized Enterprises (SMEs) in the European Parliament, the ECR Group stresses the need for a binding agenda to reduce the administrative burden on SMEs, as well as impact assessments for all future legislative proposals. Furthermore, the ECR emphasises the importance of providing SMEs with greater access to finance, given how susceptible they have been to the consequences of the Covid-19 crisis.

Speaking ahead of the vote on the own initiative report, ECR shadow rapporteur Rob Roos said:

“For far too long, SMEs have not received the recognition they deserve from Brussels. Regulatory pressure and insufficient access to finance frustrates entrepreneurship and innovation in the sector. We want the European Commission to come up with a binding agenda to reduce the administrative burden, as well as a binding test to assess the costs and benefits of legislative proposals for SMEs. This includes their economic impact on the one hand, and the impact on their employees on the other.

Mr. Roos added: “Unlike multinationals, SME entrepreneurs are not lobbyists. Their interests have to be fought for everyday by MEPs who have their interests at heart. The battle is far from over. We feel we must give SMEs a stronger position in European decision-making, one that is worthy of their invaluable economic importance.”

The vote will take place on Wednesday, 12:45. The results will be announced at 6pm.

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