Small and medium-sized enterprises (SMEs) provide a vital contribution to the EU’s economy, being responsible for 85% of the net job growth between 2002 and 2010 and more than two thirds of the total employment in the private sector.
A recent study by the Commission has shown that, for example, Greek SMEs have suffered from the crisis with particularly lasting adverse effects on the number and value added of SMEs. The Greek economy is based more heavily on micro firms than other EU economies and this segment also accounts for more than half of all jobs.
SMEs feature prominently in the Single Market Act, published on the occasion of the 20th anniversary of the single market this year. Out of twelve priority measures "to boost growth and strengthen confidence" in the single market, which shall be adopted by 2012, two target SMEs.
The Small Business Act review (February 2011) sets out new actions to respond to challenges resulting from the economic crisis. Although most initiatives foreseen by the SBA have been set in motion, the review reveals that there is still more to be done to help SMEs.
The ALDE Group considers SMEs to be the main driving force for economic growth. However, SMEs have struggled to reap the full benefits of the single market, due to bureaucratic hurdles, lack of financing and insufficient harmonisation.
This is why the ALDE Group has launched an SME campaign to draw attention to the importance of SMEs to boost economic growth and their key role to help Europe out of the financial crisis.
We will launch this campaign on the eve of the European Council on the 29th February. The event will start at 18:30, the venue will be a marquee on the Esplanade between Place Luxembourg and the European Parliament.
Speakers are:
- MEP Guy Verhofstadt (President of the ALDE Group),
- MEP Jürgen Creutzmann (Chairman of the ALDE SME Task Force),
- Mr. Antonio Tajani, EC Vice President and Commissioner for SMEs
- the Belgian Minister for SMEs, Mrs. Sabine Laruelle
