Small Business Act: The European Commission's Commitment to SME's

On 31 January, the European Commission launched a public consultation on the content of a European "Small Business Act". It's objective is to put small and medium sized enterprises at the forefront of decision-making in the EU and to introduce concrete measures to unlock the SMEs' growth potential.

"Small Business Act" will include new initiatives to reduce regulatory burden on SME's, facilitate access to Single Market/public procurement, help provide necessary financial/human resources for SME development and help SME's face the challenge of globalization and climate change. The preparation of a "Small Business Act" for Europe is one of the key measures announced in the Commission's package for the next cycle of the Growth and Jobs Strategy adopted last December.

The consultation will be open until the end of March. A Public hearing on the "Small Business Act" will take place on 6 February in Brussels.

Read the full press release here or visit the European Portal for SMEs for further information.

Source: Press release, europa.eu, 01.02.2008