Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-16-Speech-3-244-000"

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"en.20110216.11.3-244-000"2
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"I voted in favour of this important motion for a resolution on practical aspects regarding the revision of EU instruments to support SME finance in the next programming period. The 23 million small and medium-sized enterprises (SMEs) in the EU, which account for around 99% of all businesses and provide over 100 million jobs, make a fundamental contribution to economic growth, social cohesion and job creation, are a major source of innovation and play a vital role in sustaining and increasing employment. However, the limited ability of SMEs to access finance is a major impediment to their creation and growth, particularly faced with the current financial and economic crisis. I therefore agree with the resolution’s call for a significant increase in funding for innovative financial instruments under the EU budget to cater for the financing needs of SMEs, and in light of the Europe 2020 Strategy. However, it should be noted that the current EU financial regulations on the use of European funds and programmes are unduly complicated, and the expense in terms of time and money involved in complying with these regulations is out of all proportion to the benefits for the final recipient of the funding. I therefore agree with the call for the Commission to propose simplified and less costly regulations and guidelines, especially for programmes intended to support low-volume SME finance."@en1

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