On 12 September 2023, the European Commission presented their SME Relief Communication which proposes a series of initiatives to support Europe's small and medium-sized enterprises (SMEs). SMEs are essential drivers of innovation in Europe but are particularly sensitive to recent crises and volatility. Proposals set out in the Communication outline measures to provide short-term relief, strengthen SMEs' long-term competitiveness, and improve fairness in the business environment across the Single Market.
The proposals include both legislative and non-legislative measures that aim to boost SMEs' access to finance and unlock more opportunities for growth. They also aim to improve the current regulatory environment for SMEs, simplify administrative requirements and upskill the workforce.
Follow this link to review the press release.