SMEs are the backbone of Europe's economy. They represent 99% of all businesses in the EU, they create 85% of new jobs and provide two-thirds of private sector employment in the EU. That is why EU laws must first of all support them.
It is one of the EPP Group's priorities to help SMEs to grow and to facilitate entrepreneurship.
To scrutinise the impact of every EU law on SMEs, the EPP Group set up a working group called the ‘SME Circle’. The Chairman of the 60-member group, Markus Pieper, says "We want to be a 'Red Tape Watch', an observatory against bureaucratic excess. Regulation that is too detailed is a barrier to economic growth."
The EU needs to mobilise and set incentives for all sources of investment, public and private, ensuring SME access to capital. Public-private partnerships should be further encouraged. Facilitating young people in setting up their own businesses and, above all, education in entrepreneurship is something we should invest in.