Summary
A report on improving the competitiveness of European SMEs by reducing bureaucracy and increasing access to finance. 10 13.09.2016
Other
trade
economy
finance
environment
social policy
public administration
business and competition
employment and working conditions
Key points
- SMEs are vital to the European economy, accounting for 99% of all businesses and providing a majority of private-sector jobs.
- The funding allocated to support SMEs has significantly increased, with a goal to double previous support levels during the 2014-2020 period.
- Administrative complexity and 'red tape' are major obstacles preventing small businesses from accessing available EU funds.
- There is an urgent need to improve access to finance, particularly for microenterprises and start-ups that struggle with traditional banking.
These raw data are provided by the Open Data Portal of the European Union (data.europa.eu) and are licensed under ODC-BY 1.0.