Companies needing a helping hand
Easier access to venture capital is a key to improving the outlook for the European Union's economy. This was one of the conclusions drawn by the European economic and social committee following its appraisal of the recently published 1999 review of the EU's economy . According to the committee, more venture and start up capital from the banking sector, particularly for high-tech sector would provide great stimulation for business success and job creation. This, coupled with the tax regime in many countries in the EU, has served to hamper the businesses in these sectors. The committee has therefore called upon the Commission to undertake a thematic study on the relationship between taxation level and growth, and to present medium-term scenarios to assist the macroeconomic decision making process