MEPs today sent a strong signal to the European Commission to come forward with new proposals to improve access to finance for Small and Medium Enterprises’ (SMEs) by adopting a European Parliament report calling for practical new funding mechanisms and more legal certainty.
Liberal Democrat MEP Rebecca Taylor, who helped draft the report, said that 99% of businesses in the EU are classified as SMEs and pointed out that between 2002 and 2010 they created 85% of all new jobs. Stressing the need for better access to funding for SMEs in times of economic crisis, she commented after the votes
“We must bear in mind that our SMEs are the ones creating and preserving jobs locally even in times of economic hardship. SMEs must not be left to financial starvation.
“Alternative ways for SMEs to access funding are, for example, business angels, crowd-funding platforms and peer-to-peer lending. However there is a lack of legal clarity at national and European level, so it will be essential for the European Commission and Member States to put forward solutions to tackle such difficulties.”
Note to Editors:
The report adopted by the European Parliament today identifies and lists concrete proposals of funding opportunities for SMEs. The full report can be found here:
Rebecca Taylor is a strong supporter of the Liberal and Democrat (ALDE) campaign in the European Parliament ‘Boost SMEs’ whose three main goals to help SMEs are “1. Smart regulation and simplification of rules, 2. Easier financing, 3. Improved market acces”. For more information on ALDE’s SME campaign, see http://www.alde.eu/campaigns/smes/