Parliament emphasises importance of SMEs
The latest plenary session of the European Parliament endorsed a report tabled by MEP Dominique Vlasto which called for more measures to assist SMEs (small and medium sized enterprises) in the EU. More effort is needed to ensure Member States help SMEs despite less favourable economic conditions following on from 2001, say MEPs. Specific measures suggested in the report include enhancing business support services, bringing in better support for bankrupt companies and directors and experimental measures on VAT reduction for all labour-intensive activities. MEPs also called on the Commission to take account of the needs of SMEs when formulating policies.