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Tag ‘SME Strategy’

The SME Strategy

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“SMEs are the backbone of Europe’s economy” is a statement that many of us have likely heard or come across in various European publications. But how is this essential backbone supported? What policy exists to ensure that our European SMEs are able to operate and thrive within our entrepreneurial ecosystems?

One important part of the European framework that exists to support SMEs is the SME Strategy, released by the European Commission in March 2020. In developing this Strategy, the European Commission kept the variety in function, size and make-up of European SMEs firmly in mind, while also recognising their individual requirements and the need to support the innovation, jobs and diversity that they bring to the EU economy.

Within the SME Strategy the Commission puts forwards actions clustered around three main pillars:

  • Capacity-building and support for the transition to sustainability and digitalisation;
  • Reducing regulatory burden and improving market access; and
  • Improving access to financing.

The SME Strategy is part of the “New Industrial Strategy for Europe” and can be consulted in full here.

Making Europe’s businesses future-ready

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The European Commission has developed an industrial policy package to help Europe’s industry lead the twin transitions towards climate neutrality and digital leadership. The package aims to drive Europe’s competitiveness and its strategic autonomy at a time of moving geopolitical plates and increasing global competition.

The package of initiatives outlines a new approach to European industrial policy that is firmly rooted in European values and social market traditions. It sets out a range of actions to support all players of European industry, including big and small companies, innovative start-ups, research centres, service providers, suppliers and social partners. A dedicated strategy for small and medium-sized enterprises (SMEs) aims to reduce red tape and help Europe’s numerous SMEs to do business across the single market and beyond, access financing and help lead the way on the digital and green transitions. Today’s initiatives also include concrete steps to address barriers to a well-functioning single market, Europe’s strongest asset to allow all our businesses to grow and compete in Europe and beyond.

The industrial policy package includes the following initiatives:

  • A new industrial strategy
  • A new SME strategy
  • A single market that delivers for our businesses and consumers

For more information read the full announcement and consult the factsheet.

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    • Bulgarian Kristina Dimova wins SME Week Youth Essay Competition 2021 November 29, 2021
      Kristina Dimova, 22 year-old from Bulgaria, was proclaimed a winner of this year’s SME Week Youth Essay Competition during the SME Assembly 2021. “Change is inevitable. That’s why businesses must adapt or perish. The way they could adapt is by being as human as possible. The main thesis of my essay is that humanity is […]
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    • SME Assembly – Day 3 November 18, 2021
      The third and final day of the SME Assembly 2021 kicked off with a series of panel discussions and the Youth Essay competition, which 22-year-old Bulgarian Kristina Dimova won. The morning panel discussions covered environmental, social and governance issues; transfer of business; European scale-up firms; and SME support under the new Multi-annual Financial Framework.A highlight […]
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    • European Enterprise Promotion Awards Class of 2021 November 17, 2021
      Over the past months, you have followed us as we showcased the best projects in the six European Enterprise Promotion Awards categories here on the Promoting Enterprise portal. The EEPA story of these projects reached its climax on the second day of the SME Assembly on November 16, when the winners in the six categories […]
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    • SME Assembly 2021 – Day 2 November 17, 2021
      The second day of the SME Assembly 2021 opened with the European Commissioner for Internal Market Industry, Entrepreneurship and SMEs (DG GROW), Thierry Breton. In his speech, the Commissioner talked about the collective responsibility to ensure that SMEs embark on the road to recovery as swiftly as possibly.  This was followed by Slovenia’s Minister of Economic Development […]
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    • European Small and Mid-Cap Awards – 2021 winners November 17, 2021
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    • EEPA 2021 – Meet the Special Mentions November 16, 2021
      Every year at the EEPA finals at the SME Assembly expert jury selects a number of projects for Special Mention. While these projects may not have made it to the finals, they nevertheless stood out to the jury due to their excellent work. This year during the European Enterprise Promotion and Small and Mid-Caps Awards Ceremony […]
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    • SME Assembly 2021 – Day 1 November 16, 2021
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    • Schumpeter Lecturer says “climate crisis is also a business crisis” November 15, 2021
      Speaking at the European Commission’s SME Assembly 2021 during the Schumpeter ‘Innovation in Enterprise’ Lecture, joint Nobel Prize laureate Professor Lučka Kajfež Bogataj of the University of Ljubljana said that the world needs “enlightened policies and governance, and an engaged citizenry if we are to achieve long-term sustainability.” “We can no longer postpone tackling difficult […]
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    • SME ASSEMBLY 2021: Professor Lučka Kajfež Bogataj to Deliver the Schumpeter ‘Innovation in Enterprise’ Lecture November 12, 2021
      The highlight of the SME Assembly 2021 – the Schumpeter ‘Innovation in Enterprise’ Lecture will be delivered by professor Lučka Kajfež Bogataj. Professor Bogataj is a member of the Intergovernmental Panel on Climate Change at the United Nations for more than 16 years  and a joint recipient of the Nobel Peace Prize in 2007 for […]
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    • SME Assembly 2021 – Register Now to Follow Online! November 4, 2021
      Make sure to register now for this year’s SME Assembly, taking place in Portorož, Slovenia on 15-17 November 2021, so you can follow the key sessions online. Click here to register, it will only take a moment!
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