WRITTEN QUESTION No. 1692/96 by Amedeo AMADEO to the Commission. European Observatory for SMEs
Date: 1996-06-24
Institutions: AMADEO, European Parliament
Subjects: EU financial instrument, business administration, business policy, competition, competitiveness, loan, size of business, small and medium-sized enterprises













EUR-Lex - 91996E1692 - EN






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91996E1692

WRITTEN QUESTION No. 1692/96 by Amedeo AMADEO to the Commission. European Observatory for SMEs  


Official Journal C 356 , 25/11/1996 P. 0085 





WRITTEN QUESTION E-1692/96 by Amedeo Amadeo (NI) to the Commission (24 June 1996)Subject: European Observatory for SMEsThe findings set out in the report of the European Observatory for SMEs illustrates the great difficulty SMEs have in obtaining capital and it is evident that access to risk capital is a decisive factor in assessing the business environment. Alongside a comparable level of competition in the banking sector, efforts should be made to develop, within a harmonized framework in the countries of the Union, instruments such as participatory loans and local stockmarkets which do not exist yet in all Member States. The aim should be to create a credit market with a wide variety of different players competing with different products.Will the Commission therefore adopt a robust and broad interpretation of Article 130 of the Treaty with regard to small and medium-sized enterprises?Answer given by Mr Papoutsis on behalf of the Commission (16 September 1996)The Commission agrees with the Honourable Member's analysis of the situation of small and medium-sized enterprises (SMEs) regarding access to credit and equity. It would point out that, in accordance with the objectives stated in Article 130 of the EC Treaty, the enterprise policy aims to:- promote an environment which is conducive to the development of SMEs,- improve the competitiveness of SMEs and encourage their Europeanisation and globalisation.As a result, the Commission has submitted to the Parliament and the Council a proposal for a third multiannual programme for SMEs covering the period from 1997 to 2000, which lists a better financial environment for enterprises as one of its priority objectives. In implementing this programme, the Commission aims to:- improve access to loans, particularly by supporting the granting of bank guarantees by the European Investment Fund (EIF), especially in connection with implementing the new ELISE instrument (European Loan Insurance Scheme for Employment); by promoting the development of mutual guarantee companies; and by facilitating dialogue between banks and SMEs by means of the round table involving both parties;- step up its efforts to reduce problems with payment arrears among enterprises and between administrations and enterprises;- facilitate the development of specific financial instruments such as factoring or credit insurance;- stimulate the development of capital markets for fast-growing SMEs;- mobilise private risk capital investors to support enterprises with a high technology content and high growth potential.The actions planned would continue or supplement the measures for financing SMEs which have already been implemented either as part of the Community's regional policy or under operations carried out by the European Investment Bank and the EIF.