Press Release: Europe’s Small Business Act strengthens small businesses and drives growth

Europe's 2020 strategy and Europe’s economy heavily rely on Small and Medium-sized Enterprises (SMEs) achieving their potential. In the EU, some 23 million SMEs employ 67% of the private sector workforce. The Small Business Act (SBA) is the EU policy framework aimed at strengthening SMEs so that they can grow and create employment. Between 2008 and 2010, the Commission and EU Member States implemented actions set out in the SBA to alleviate administrative burden, facilitate SMEs’ access to finance and support their access to new markets. Although most initiatives foreseen by the SBA have been initiated, a review of implementation so far reveals that more must be done to help SMEs.

• Primary Source

United Kingdom: BIS: Press Release, 23.2.11: Welcome for EU review of support for small businesses http://nds.coi.gov.uk/content/Detail.aspx?ReleaseID=418235&NewsAreaID=2

European Commission: Memo/11/110: SBA successfully supports entrepreneurship and small enterprises http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/110&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Memo/11/109: SBA Review: What has been done and what is to be done for Europe’s SMEs http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/109&format=HTML&aged=0&language=EN&guiLanguage=en

ESO: Background information: SBA gets new focus on red tape, finance and taxes http://www.europeansources.info/record/sba-gets-new-focus-on-red-tape-finance-and-taxes/

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