EU rules on late payments have triggered a reduction in payment delays. However, still more than 60% of businesses in the EU are not paid on time and small and medium-sized enterprises are most affected. The initiative will provide relief to SMEs by revising existing EU payment rules based on available and upcoming evidence to promote a definitive shift towards a culture of “prompt payment".
Next Generation SME Strategy – Enhancing Effective and Swift Delivery - Related Opinions
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Europea Economic and Social Committee's opinion on Modern Business Responsibility – Avenues for Elevating MSMEs Ability for Successful Transformation (own-initiative opinion).
Improving Micro Small and Medium Enterprises’ (MSMEs) financial resilience is crucial to avoid unnecessary bankruptcies, loss of jobs and mitigate the impact of the past, ongoing and future crisis.
This opinion will assess the chances and challenges that SMEs face due to the green transition and will call the EU and the Member States to provide them with a favourable business environment, proper funding and support measures.
Europe is embarking on a transition towards climate neutrality and digital leadership. European businesses can lead the way as we enter this new age, as they has done in the past.
Small and medium-sized enterprises (SMEs) are essential to Europe’s competitiveness and prosperity. Based on the new SME Strategy, the EU will support SMEs by:
- encouraging innovation through new funding and digital innovation hubs as part of the sustainable and digital transitions;
- cutting red tape by reducing barriers within the Single Market and opening up access to finance;
- allowing better access to finance by setting up an SME Initial Public Offering Fund (with investments channelled through a new private-public fund) and the ESCALAR initiative (a mechanism to boost the size of venture capital funds and attract more private investment).
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