Issue 125
March 2024
ISSN 2315-0017
Spotlight on European entrepreneurship and SMEs
Small- and medium-sized enterprises (SMEs) are the backbone of the EU’s economy. From repairing our cars to developing ground-breaking technologies, the activities of these enterprises are wide-ranging. They provide essential services to our communities, and on a larger scale, they boost the EU’s competitiveness and drive innovation.
Currently, there are roughly 24 million SMEs scattered across the EU. They represent 99 % of all businesses in the EU, employ around 85 million people, and account for more than half of our GDP. In short, when SMEs thrive, so does the EU.
This is why the EU works hard to support SMEs, from their foundation through to their expansion. For example, to encourage entrepreneurship, the EU supports several projects that aim to improve and promote entrepreneurship education. The EU has also developed networks and programmes that cater to specific groups, such as women entrepreneurs and young entrepreneurs, to ensure that everybody has an equal chance to take the leap into the world of entrepreneurship.
To facilitate the transformation of entrepreneurial ideas into fully fledged enterprises, the EU works to improve SMEs' access to finance and make it easier for SMEs to thrive. The EU also strives to empower SMEs of all sizes and sectors, from innovative tech start-ups to traditional crafts, to scale-up and access foreign markets.
In September 2023, the European Commission announced an SME Relief Package which aims, among others:
- to strengthen SMEs’ liquidity by preventing late payments,
- to simplify the tax environment for SMEs,
- to facilitate SMEs’ access to finance,
- to limit the regulatory burden placed on SMEs, and
- to ensure that those running and working in SMEs can develop relevant skills.
These measures seek to strengthen the resilience of SMEs and boost their competitiveness after years of high uncertainty, particularly in the context of the COVID-19 pandemic and Russia’s war of aggression on Ukraine.
Our March newsletter puts the spotlight on European entrepreneurship and SMEs. As always, we also recommend publications on a variety of engaging topics, from biodiversity and forestry to semiconductors.
Enjoy the good reads!
Overview of EU instruments contributing to the internationalisation of European businesses (2023) PDF
This overview provides information on EU programmes and financial instruments that are relevant for EU businesses wishing to access international markets. The list includes regional instruments, but also instruments focusing on specific third countries, which can help EU businesses in their goal of internationalisation.
Available in EnglishApplication of the ‘One in, one out’ approach PDF/Paper
And its impact on businesses
The ‘One in, one out’ approach is a measure taken by the European Union that aims to reduce the regulatory burden faced by EU businesses, particularly SMEs, and boost their competitiveness. This study takes stock of the implementation of this measure and assesses its impact on businesses.
Available in EnglishRegulating minimum wages and other forms of pay for self-employed PDF
Out of concern for the challenging conditions faced by certain groups of self-employed workers, some Member States have established or are in discussions about proposing some form of minimum pay for selected categories of self-employed people. The main objective of the report is to understand how minimum wages, wage rates, tariffs, fees, and other forms of pay could be fixed for specific jobs or professions.
Available in EnglishSMEs and high inflation PDF
Final report
Since 2021, the European Union has experienced historically high levels of inflation, with year-on-year increases in consumer prices reaching as high as 11.5 % in October 2022. From the collection of payments to skills and labour shortages, this study assesses how this environment of high inflation has affected small- and medium-sized enterprises.
Available in EnglishCrisis costs for European SMEs PDF/Paper
How COVID-19 changed the playing field for European SMEs: final report
The COVID-19 pandemic has become the cause of one of the greatest global recessions ever experienced. As such, many SMEs were exposed to financial and employment-related losses. However, not all industries suffered the same income losses or job disruptions and there is still limited evidence on the pandemic’s true impact. This study develops a systematic classification of the impacts of COVID-19 and other international crises on SMEs. The study ultimately proposes a list of policy recommendations for the recovery and competitiveness of SMEs.
Available in EnglishEnterprise Europe Network EU single market PDF
Success stories
The stories featured in this brochure illustrate how the four fundamental freedoms of the Single Market — free movement of goods, persons, services, and capital — have simplified daily business operations, fuelling growth and prosperity across the European Union. The brochure demonstrates practical examples of successful ventures to demystify the process of conducting business abroad and highlight how the Enterprise Europe Network can support businesses wishing to take the jump.
Available in EnglishAlso out recently
A blueprint for sustainable living PDF
2023 activity report
A blueprint presents drawings, dimensions, and notes. This report draws vivid pictures of the beneficiaries of European Investment Bank projects in 2023. It includes information on the nature and size of the EIB’s investments and the importance of its loans to each of its beneficiaries during the year. The report notes the EU policies and expertise that lead the EIB to make each of our investments.
Available in EnglishCohesion policy in the outermost regions PDF/Paper
Through its cohesion policy, the EU aims to correct imbalances between countries and regions and foster economic growth. This study focuses on cohesion policy and its implementation in the EU’s nine outermost regions. It outlines the specific characteristics of these regions and further analyses the vulnerabilities they face. The study also reviews the importance of cohesion policy and concludes with recommendations for its wider application.
Available in EnglishIn your language
Guidelines on biodiversity-friendly afforestation, reforestation and tree planting PDF/Paper
Under the European Green Deal, the EU’s Biodiversity Strategy for 2030 tackles the protection and restoration of nature by making a number of specific commitments and setting several targets. This publication sets out guidelines to meet these commitments and achieve these targets through biodiversity-friendly afforestation, reforestation and tree planting.
Available in all official languages of the EUETwinning & European School Education Platform APP
The new eTwinning & ESEP mobile app is a tool to stay connected with the eTwinning Community. As a registered member, you will be notified when there are updates in your projects and groups, you can connect with people for future collaboration, and you can discover European education trends from the European School Education Platform.
Available in all official languages of the EU and several othersResearch and innovation
CORDIS results pack on research infrastructures in Europe PDF/Paper/HTML
In order to tackle complex and global issues such as climate change and biodiversity changes, researchers across Europe need access to world-leading resources and infrastructure. This Results Pack highlights the work of 13 EU-funded research projects that, through the support of research infrastructures, are helping to advance scientific knowledge and technological progress supporting European society in facing current and future challenges.
Available in EnglishYou may also like
Futures of civic resilience in Europe, 2040 PDF
Scenarios and policy implications
Exploring alternative futures addressing radical changes in society can help better prepare for future crises and strengthen the resilience of civil society today. This publication sets out four possible future scenarios in 2040 and considers their implications for society. It also explores how the EU’s research and innovation policy can help boost society’s resilience in the face of these scenarios.
Available in EnglishThe semiconductor ecosystem PDF/Paper
Global features and Europe's position
Semiconductors (also called chips or microchips) are the building blocks of modern technology and a critical part of any advance economy. Recent times have exposed the fragility of the global supply chains in this sector, as well as the importance of semiconductors for countries’ security. This publication sheds light on the importance of the sector for our society and the fragile nature of the global production system.
Available in EnglishOur news
Launched in 2021, the CORDIScovery podcast highlights the work being carried out by EU-funded research projects. Every month, the podcast brings together EU-funded researchers who discuss the most pressing matters in their respective fields and how their projects aim to address these issues.
So far, over 30 episodes have been produced, dealing with a range of topics from space to health to artificial intelligence. To find out about how these researchers and EU-funded projects are working to address the major societal challenges that we face today, you can follow the podcast on the European Commission’s audiovisual library as well as on YouTube, Spotify, Google podcasts and Apple podcasts.
The Publications Office of the EU, managing TED (Tenders Electronic Daily), is thrilled to announce that registration is now open for the upcoming event, ‘Public Procurement Data Superpowers: Transparency in public procurement – Harnessing artificial intelligence’. Taking place on 29-30 April 2024 at the Residence Palace in Brussels and online, this event will help unveil the vast potential of public procurement data and give an opportunity to reflect with all stakeholders on how to tackle the complex landscape of procurement data in the future. Reserve your spot now!
Join us for insightful contributions, discussions and exchanges on topics such as the public procurement data space, the transformative impact of artificial intelligence, and eForms – the exclusive standard for publishing procurement data since October 2023. These topics will be presented by expert speakers from national authorities, EU institutions, NGOs, and procurement specialists. Additionally, the event will provide an opportunity to celebrate the success of the winners of the TED Ambassador Award.
Register now for this event to explore together the future of European public procurement data.
Registration link: https://op.europa.eu/en/web/public-procurement-data-superpowers/registration
Event agenda: https://op.europa.eu/en/web/public-procurement-data-superpowers/agenda-2024-04-29
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