To achieve this goal, the European Commission has unveiled on the 25th of June 2008 the Small Business Act for Europe, based on ten guiding principles and proposes policy actions to be undertaken by both the Commission and Member States. The Commission is proposing a genuine political partnership between the EU and the Member States reflecting the political willingness to recognise the central role of SMEs in the EU economy and to put in place for the first time a comprehensive policy framework for the EU and its Member States. The SBA proposal goes hand in hand with the recently announced plans of the European Investment Bank Group to simplify, modernise and diversify the range of its instruments to support SMEs.

European Commission Vice-President Mr. Gunter Verheugen, responsible for enterprise and industry policy states "Now is the time, once and for all, to cement the needs of SMEs in the forefront of the EU's policy. The Small Business Act for Europe (SBA) brings the full weight of Europe behind SMEs - enlisting all the resources of Europe to help small business in their daily business and to clear the path for those that want to create more jobs and grow in Europe and beyond."

Click here to find more information on the Small Business Act for Europe.