Memo: EU gives top priority to helping SMEs create jobs

Small and medium-sized enterprises (SMEs) are Europe’s job engine. Today, 85% of net new jobs in the EU’s private sector are created by SMEs. For this reason, the EU has created a number of programmes to promote a better economic environment for the 21 million SMEs in the EU, and support their efforts for creating new jobs.

The European Commission helps SMEs find necessary funds for their development through a loan guarantee scheme under the Competitiveness and Innovation Framework Programme (CIP, 2007-13). The scheme has already supported more than 200 000 SMEs with a loan volume exceeding €12.5 billion.

The Commission also seeks to develop a framework for efficient, diversified and improved long-term financing for SMEs by helping to attract more private investment.

• Primary Source

ESO: Background Information: Website: European portal for SMEs http://www.europeansources.info/record/website-european-portal-for-smes/

ESO: Background Information: Speech: Remarks by Vice-President Olli Rehn at Eurogroup press conference http://www.europeansources.info/record/speech-remarks-by-vice-president-olli-rehn-at-eurogroup-press-conference-2/

ESO: Background Information: Small companies granted relief on EU accounting rules http://www.europeansources.info/record/small-companies-granted-relief-on-eu-accounting-rules/

ESO: Background Information: Joint report on Increasing lending to the economy: implementing the EIB capital increase and joint Commission-EIB initiatives http://www.europeansources.info/record/memo-joint-report-on-increasing-lending-to-the-economy-implementing-the-eib-capital-increase-and-joint-commission-eib-initiatives/

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