Economic and social committee calls for SME statute
The Economic and social committee (ESC) has called for the creation of a European company statute for small and medium-sized enterprises (SMEs). In an own-initiative opinion adopted on 21 March, the committee argues that a small business statute would 'promote entrepreneurship and the creation of new economic activities, and be an incentive to cross-border partnership within the single market.' A European company statute for SMEs would provide a clearer legal environment for small businesses operating on a European scale. The committee argues that a statute specifically for small companies is necessary to avoid discrimination from a European company statute designed for larger firms. It emphasises that the statute should be a truly European business structure, independent of national law.