Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-16-Speech-3-249-000"
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"en.20110216.11.3-249-000"2
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"Given the fact that many small and medium-sized enterprises (SMEs) depend on credit and loans for external funding, there is a need to create credit and loan guarantee schemes, and to boost the role of the European Investment Bank in this area. The Commission should also push for the removal of barriers to the development of European venture capital and bond markets, and should expand risk-sharing facilities for investments in equity. There is a related need to increase awareness of the risks of many national taxation and support systems, which provide strong incentives for debt financing and disincentives for equity financing. I think that the complexity of EU financial regulations and guidelines for European financial instruments is a serious problem, in particular when European funds and programmes are used to support individual enterprises through the provision of relatively small amounts of funding. 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. The fragmented nature of programmes supporting SMEs is also problematic. The Commission should establish greater coherence between the CIP, FP7 and JEREMIE programmes and create a one-stop shop where SMEs would be able to obtain clear and comprehensive information about how to make use of these instruments."@en1
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