A new definition of SMEs?
The European Commission has invited comments to help it redefine small and medium sized enterprises (SMEs). The present definition dates from 1996 and, according to the Commission, needs adapting to economic developments and to ensure that the definition is not circumvented in the process of Framework programme, structural funds and state aid funding. The Commission wants to ensure that it is really SMEs that benefit from the SMEs supporting measures and help refine the present distinction of micro, small and medium SMEs. A new definition could particularly help family and artisan businesses. Comments can be received at the address below until 9 November. The measure is particularly important, as the EU's 19 million SMEs comprise 99.8 per cent of all EU enterprises. They employ over 74 million people and their role in improving the innovative and competitive nature of EU business is crucial.