Mizzi calls for recognition of SMEs' contribution to EU economy

MEP Marlene Mizzi has participated in a high level debate at the European Parliament on upgrading the Single Market and providing more opportunities for SMEs. 

This debate, hosted by the SME Intergroup and Euro chambers, is one of a series of debates which have been held in the European Parliament focusing on small and medium-sized businesses across Europe.

Mizzi was introduced as a key note speaker and the S&D rapporteur on the important Single Market Strategy dossier currently debated in IMCO Committee.

She spoke about the importance of reducing administrative burden and red tape, providing affordable and easy access to finance for SMEs and giving a second chance to honest businesses, whilst keeping in mind that the costs and consequences of failing companies affects not only the company's owner and shareholders, but also its creditors, employees, citizens and taxpayers.

The Commission has promised, in its recent Single Market Strategy, to help SMEs and modernise the EU standards system, strengthen the single market for goods, reduce barriers, simplify VAT regulation, put forward a proposal on business insolvency and make all information on regulatory requirements accessible in a single digital gateway.

Mizzi said that the Commission's plan was not ambitious enough. She hopes that her substantial amendments to the report would address a number of issues which were not included in the Commissions report  for the benefit of SMEs and all stakeholders.

"Creating opportunities for SMEs is not solely about business creation, but it is also about setting the right environment for consumers and citizens.

"There are still a lot of possibilities and a number of areas where progress could be made such as facilitating SMEs’ access to finance and to markets, promoting entrepreneurship, addressing the shortage of skilled workers, know-how and innovation and more importantly proper enforcement of single market rules in order to create a level playing field for all companies," said Mizzi.

"With more than 25 million unemployed people in Europe, we need more than ever to create sustainable jobs and give young people the chance to enter the labour market.  Therefore, promoting stronger crafts and SME policies is one of the solutions to help Europe return to a sustainable growth path driven by the private sector."

Mizzi concluded: "This was a very interesting and well-attended discussion which allowed us to better understand the problems faced by SMEs and start-ups when trying to open up or expand their own business.  It is vital to give a voice to SMEs not because of their size, but because of their importance to the European economy and ‎job creation.