SME Finance: EU Parliament Hits the Nail on the Head
February 16 2011
The European Small Business Alliance congratulates the European Parliament on adopting by a large majority a motion for a resolution on improving SME finance. Access to finance is still one of the major obstacles faced by SMEs today. At the same time, finance is absolutely crucial to help the creation of SMEs and enable their growth. The motion which made its way through the Plenary today aptly highlights the core challenges regarding SME finance and offers concrete suggestions to the European Commission on how to tackle these issues. Emphasising the heterogeneity within the SME spectrum, the likely effects of increased capital requirements in the banking sector on SME lending and the need for simplification of EU funding are amongst the key areas discussed.
ESBA President Tina Sommer said: ''I am pleased with the outcome of today's vote. The document, as well as the wide support it received, shows that the many calls for improvement by SMEs in this area have been heard. ESBA particularly welcomes the realisation that certain obstacles can weigh exceptionally heavy on micro-businesses, which is why even within the SME spectrum, a one-size-fits-all approach does not work. ESBA shares the Parliament's concerns regarding the effects of Basel III on the ability for SMEs to acquire loans and underlines the need for a one-stop shop to create clarity in the jungle of EU funding. However, I do warn against over-focussing on 'highly innovative and fast growing companies', as they represent only a minority of EU small businesses.
ESBA urges the Commission to take this motion for a resolution as a vantage point for the further development of its SME finance policy.''
Motion for a resolution: Motion
- ESBA welcomes vote on new banking rules; Ensuring a more stable banking sector with adequate provisions for SMEs.
- Small businesses welcome new dispute resolution schemes
- Data protection battle fought at the expense of small businesses
- Small businesses concerned about data protection vote
- Changing mind-sets to boost entrepreneurship in Europe
- ESBA Welcomes Adoption of De Backer Report
- Mixed Response of SMEs to New Public Procurement Rules
- Vote on COSME Marks Important Step Towards Competitiveness of EU SMEs.
- ESBA Welcomes the Adoption of the Rubig Report
- COSME: SMEs Warn Against Over-Emphasizing Venture Capital
- ESBA Elects New President
- Capital Requirements Directive: an SME Perspective
- ESBA Welcomes Council Decision on COSME
- ESBA Welcomes Parliament's Recommendations on Equal Pay
- ESBA Welcomes Stoiber Group Report on Reducing Administrative Burden
- Bigger is Better?
- Micro Businesses Exempted from Burdensome EU Accounting Rules
- Council Shows Resilience in Maternity Leave
- Maternity Leave: Council Sticks to its Guns
- ESBA Supports European Parliaments Move towards EU Patent
- ESBA Urges Council to Say NO to Costly and Burdensome Increase in Maternity Leave