Local leaders urge timely implementation of SME Relief measures

Local leaders urge timely implementation of SME Relief measures

 

The European Committee of the Regions (CoR) gave its backing on 31 January to a package of support measures for small and medium-sized enterprises (SMEs) proposed by the European Commission but stressed that measures need more local focus and faster implementation.

In an opinion drafted by Kate Feeney (IE/Renew) from Dún Laoghaire-Rathdown County Council and adopted by unanimity by CoR members during their plenary session, the CoR welcomed proposed measures to simplify administrative procedures for companies doing business across the Single Market, in part through digitalisation.

Increasing SMEs competitiveness and resilience can only be achieved by boosting innovation

CoR members stressed that most European SMEs are investing in their sustainable transition, though they generally struggle with accessing finance and skills for this and with related reporting requirements. To address the finance gap for the green transition, the capacity of banks to fulfil sustainable financing should be substantially increased through incentives and simplified regulation.

Warning that SMEs face an increasing challenge to find skilled employees, the CoR argued that many key skills for the green and digital transition of European industry are best brought to SMEs by regional partnerships, networks, and clusters, and called for the EU to work closely with local and regional governments and provide funding. The package also includes new tools to foster innovation at the regional level. Regional and local leaders welcomed the proposals, but also suggested the European Commission could go farther, by teaming up with European regions and cities to explore and pilot innovative ideas. (...)