Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-16-Speech-3-255-000"
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"en.20110216.11.3-255-000"2
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"There are approximately 23 million small and medium-sized enterprises (SMEs) in the European Union. Their importance to national economies and their growth potential for the labour market is undeniable. Portugal is an example of this: approximately 300 000 SMEs represent more than 99% of the total number of companies, and these are directly responsible for more than 2 million jobs and have a combined turnover of some EUR 170 billion. As a result of the recent economic crisis, the financing capacity of these SMEs, which was already limited, became significantly worse, specifically because of even more restrictive credit conditions imposed by the banking sector. The functioning of SME finance schemes therefore becomes all the more essential, specifically through a greater Union budget allocation for the Competitiveness and Innovation Programme of the Structural Funds and the Seventh Framework Programme. It is also important to progressively correct market failures and remove administrative barriers. The right measures should be taken at the right time so that the national economies of the Member States can achieve their potential for growth and contribute to the growth of the labour market; this will enable the Member States to develop, which will result in social cohesion."@en1
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